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September 4, 2020 Comments Off on NorthMarq Arranges $51M for “Trophy” St. Louis Apartments Views: 458 Chicago News, Midwest News

NorthMarq Arranges $51M for “Trophy” St. Louis Apartments

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David Garfinkel, SVP/managing director of NorthMarq Capital’s St. Louis office, arranged acquisition financing of $50.57 million for The Barton Apartments. The 228-unit multifamily property is located in Clayton, MO, a St. Louis submarket.

The transaction was structured with a 10-year term. NorthMarq arranged financing for the borrower through its in-house Fannie Mae team.

“The Barton Apartments are a trophy asset in Clayton and we were thrilled to be able to provide acquisition financing for the buyer of the property,” said Garfinkel. “We were able to navigate through any issues related to COVID and made for a seamless execution amongst the parties.”

The Barton sits in close proximity to retail, restaurants, activities and employers, and backs up to the Centennial Greenway Trail. It also provides easy access to the greater St. Louis area via I-170, located less than half a mile from the property.

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