Berkadia Arranges Sale and Secures Acquisition Financing for Multifamily Property in Mission, Kansas

MISSION, KAN. — Berkadia has arranged the sale of the Bridges at Foxridge in Mission, just north of Overland Park. Berkadia also arranged the acquisition financing for the buyer, Landmark Realty of San Francisco. The seller was New York-based Sterling Equities. The sales price was not disclosed. Constructed between 1966 and 1973, the 317-unit apartment community is located at 5250 Foxridge Drive. Unit sizes average at 1,267 square feet. Community amenities include a swimming pool, fenced dog park, garages and carports, children’s playground, fitness center, tennis court and clubhouse with full kitchen, complimentary computers and Wi-Fi. Michael Sullivan, Grant Kollman, Brett Meinzer and Alex Blagojevich represented the seller in the transaction. John Schorgl originated the acquisition loan with Fannie Mae. The 10-year loan includes 36 months of interest-only payments.