NorthMarq Capital arranges $4.5 million refinance of Convent Gardens Apartments in St. Louis, Missouri

Convent Gardens Apts
Debt & Equity
Multi-Tenant
Multifamily
Debt
43bb4f34-85b0-4ef3-996e-f03c5a4a2064
ST. LOUIS (June 11, 2014) – David Garfinkel, senior vice president/managing director of NorthMarq Capital’s St. Louis based regional office arranged the $4.5 million refinance of Convent Gardens Apartments, an 83-unit multifamily property located at 4497 Pershing Avenue, St. Louis, Missouri. The transaction was structured with a 20-year term and 30-year amortization schedule. “The borrower was looking for a long-term loan and we were able to secure 20-year financing with a 30-year amortization schedule—exactly what the borrower wanted,” said Garfinkel. “The Life Company was able to offer more attractive financing terms and the loan closed very smoothly.”
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