Berkadia, New York, secured $50.1 million for multifamily properties in Virginia and Missouri.

In Richmond, Va., Berkadia Senior Managing Director John Reed and Managing Director Donald Marshall arranged $20.1 million in financing for midrise property East 51 at Rocketts Landing. The loan closed on January 31.

The 10-year Fannie Mae loan closed at a 4.59 percent interest rate and included five years of interest-only payments followed by a 30-year amortization schedule.

“East 51 is the completed first phase of a multi-phase apartment project,” Marshall said. “Due to the success and rapid lease up of East 51, construction began the end of last year on Phase II.”

Located at 5101 Old Main Street near the Capital Trail, Stone Brewery and Rocketts Landing Marina, East 51 at Rocketts Landing includes studio, one- and two-bedroom floor plans.

Berkadia also closed $30 million in acquisition financing for 909 Walnut, a high-rise multifamily property in Kansas City, Mo. Managing Director John Schorgl secured the Fannie Mae loan for Worcester Investments, Kansas City. The 12-year acquisition financing included an interest-only period.

“This was a tricky deal due to the fact that the total purchase included a tower (909 Walnut), a parking garage (915 Walnut) and an office building (929 Walnut), financed by different lenders,” Schorgl said.

Berkadia’s investment sales division also sold two southern California properties. Managing Directors Jim Fisher and Jeff Rowerdink and Senior Director Mike Smith represented seller TruAmerica Multifamily when it sold Mountain Summit in Ontario, Calif. for $42.25 million. Advanced Real Estate Services, Irvine, Calif., purchased the 194-unit garden-style property on December 19.

“With tremendous job growth, low vacancy rates and very little development, the Inland Empire continues to be a favorable investment environment for both buyers and sellers,” Fisher said.

In Hollywood, Calif., Fisher and Smith represented seller Studio Apartments when the firm sold 750 and 760 Lillian Way, two garden-style multifamily properties that total 32 units.

Lillian Way Capital Group LLC purchased 750 and 760 Lillian for $6.75 million, a 4.5 percent cap rate. The sales price reflected a $210,938 per-unit price. The property was 65 percent occupied at closing with vacant units being held unoccupied for renovation.

Smith said Lillian Way Capital Group liked the location and density of the property. “Although average unit size is 415 square feet, there is tremendous demand throughout the Hollywood area and greater Los Angeles for efficiency units,” he said.