Berkadia announced today the financing of Angel Fire/Southern Shores, a 138-unit,duplex-style multifamily property in Wichita, Kansas.

Managing Director John Schorgl of Berkadia’s Kansas City office, secured the acquisition financing through Fannie Mae on behalf of the buyer, Kansas City-based Worcester Investments. The 10-year loan featured an interest rate in the low three percent range, a 30-year amortization schedule, and 3 years of interest-only payments. The deal closed on December 23.

“This a new market for Worcester Investments, but they like the asset type and it met their yield parameters,” said Schorgl.

Located at 3701 W Angel Street, Angel Fire/Southern Shores features 138-units with two-, three- and four-bedroom floorplans with two-car garages, rear patios, and laminate flooring. The property affords convenient access to South Lakes Sports Complex, Campus High School, and major roadways including I-35, I-135, and I-235.

About Berkadia®:

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.