ST. LOUIS (February 21, 2018) – David Garfinkel, senior vice president/managing director of NorthMarq Capital’s St. Louis regional office, arranged construction financing of $20,006,000 for Hibernia Apartments, a 100 unit apartment complex with 16,000 sq. ft. ground floor retail space to be occupied by a local grocer. NorthMarq arranged financing for the borrower through its relationship with The Bank of Washington, one of the oldest and largest independent community banks in the St. Louis area, celebrating 140 years of business and recently recognized as being one of the largest commercial lenders in the St. Louis area.
“We are very excited about the development of the Hibernia Apartments in the historic neighborhood of Dogtown,” said Jeff Tegethoff, a principal at Pearl Companies of Indianapolis, the developer of the project. “We have been working on the development for over a year and are excited to break ground in the near future. NorthMarq found us a great local banking relationship and we are looking forward to adding this property to a great neighborhood.”