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OVERLAND PARK, KAN. —Johnson Capital has closed four loan transactions totaling more than $10 million for four commercial properties in Kansas and Missouri.
- In Kansas City, Mo., Thomas Cohen and John Schorgl arranged a $3 million note on Metro Plaza Retail Center, a 90,000-square-foot retail center. Proceeds from the bank-financed loan were used to renovate and upgrade the center. The loan carries an initial interest-only period which converts to a five-year term with a 25-year amortization schedule.
- In Topeka, Kan., Cohen and Schorgl arranged $3.3 million in financing for White Lakes Plaza, a 144-unit multifamily property. The loan carries a five-year term and 25-year amortization schedule.
- In St. Joseph, Mo., Johnson Capital arranged a $1.5 million bank-financed loan on Gene Field Apartments, a 107-unit, multifamily property. The 10-year loan has a 25-year amortization schedule. The proceeds of the loan were used to refinance existing debt and reduce the interest carry.
- In Riverside, Mo., Cohen and Schorgl placed a $2.6 million note with a local bank for Northcrest Apartments, a 140-unit multifamily property. Proceeds from the loan were used to refinance existing debt. The interest rate is fixed for the first five years and then reset after the fifth year.