Northmarq’s St. Louis office completes sale and financing for two-property luxury multifamily portfolio

SPRINGFIELD, Mo.  — Northmarq’s Midwest Multifamily Investment Sales team of Charlie McKee, Dominic Martinez, Parker Stewart and Alex Malzone brokered the sale of a 125-unit Class A portfolio in Springfield, Missouri. Built in 2017 and 2022, The Edge and The Verdant offer best-in-class amenities including a pool, pickleball court, two fitness centers, attached garages and a state-of-the-art golf simulator.

Northmarq represented the seller, a local investor group that developed both properties. The buyer was Blue Field Capital. Managing Director David Garfinkel of Northmarq’s Debt + Equity team secured financing for the deal.

“Investors from across the country expressed strong interest in these assets due to their upscale finishes and Springfield’s strong underlying fundamentals. With limited development activity in the market, rent growth and demand are expected to remain strong throughout Springfield, especially for high quality product,” said McKee.

“We were pleased to extend our relationship with Blue Field Capital by securing attractive Agency financing for this transaction,” said Garfinkel.

The luxury portfolio is located in a premier submarket with proximity to top employers and retailers. Springfield is the fastest-growing metro area in the state of Missouri.

Residents enjoy large floorplans, averaging 1,019 square feet, with granite/quartz countertops, hardwood floors, 9-foot ceilings, in-unit washer/dryer and stainless-steel appliances.