June 11, 2014

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

Convent Gardens Apts

Debt & Equity

Multi-Tenant

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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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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