Multifamily - Debt

NorthMarq Capital’s St. Louis office arranges construction financing of $20,006,000 for Hibernia Apartments in historic Dogtown neighborhood

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.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.