Northmarq arranges the sale of 276-unit apartment community in St. Louis metro

ST. LOUIS, Mo. — Northmarq’s Midwest Multifamily Investment Sales team, led by Parker Stewart and Dominic Martinez, brokered the sale of Carriage Place at Lake Chesterfield, a 276-unit  multifamily community in Wildwood, Missouri, within the St. Louis metro area.

Northmarq represented the seller, a New York-based private investor in the off-market transaction. The buyer was Land and Apartments.

“The vintage, location, and quality of construction of Carriage Place at Lake Chesterfield allows for significant value-add upside, while the existing loan will bolster immediate cash flow for new ownership. Wildwood is one of the most desirable submarkets in West County, benefiting from strong renter demographics and limited new supply,” said Stewart, regional managing director at Northmarq.

Built in 1997, Carriage Place at Lake Chesterfield is situated at 98 Waterside Drive in one of West St. Louis County’s most desirable suburban submarkets. The community offers access to top-rated schools and is conveniently located near Historic U.S. Route 66, with proximity to local dining, retail and entertainment options.

The property features a mix of one-, two- and three-bedroom units, ranging in size from 811 to 1,525 square feet. Community amenities include a resort-style swimming pool with sundeck, fitness center, covered parking and lush green spaces.