CRE X Missouri

Berkeley Point Capital provides $33 million of funding for acquisition of 596-unit apartment community in Kansas City

northland-passage

Berkeley Point Capital recently provided $33.2 million in first-mortgage proceeds for the acquisition and renovation of Camden Passage, a 596-unit garden-style apartment community in Kansas City, Mo.

Berkeley Point Capital recently provided $33.2 million in first-mortgage proceeds for the acquisition and renovation of Camden Passage, a 596-unit garden-style apartment community in Kansas City, Mo.

The transaction was structured under the Fannie Mae DUS program as 10-year 3.6 percent fixed-rate execution with three years interest-only and seven years yield-maintenance.  The property will now be renamed Northland Passage.

Robert Cantizano, senior managing director of the Bethesda, Md., office of Berekely Point Capital, led the transaction for the company.