Northmarq arranges $45M new construction loan, $12.5M tax credit bridge loan for Olia Village in Creve Coeur, MO
Image provided by: Fireside Financial & Jack Matthews Development
CREVE COEUR, Mo. — Northmarq’s St. Louis Debt + Equity team led by David Garfinkel successfully arranged a $45 million new construction land and infrastructure loan and $12.5 million tax credit bridge loan for Olia Village, a mixed-use new construction property located at 10300 Olive Blvd. in Creve Coeur, MO.
Northmarq arranged both loans on behalf of the borrower, Fireside Financial LLC. The land and infrastructure construction loan was arranged through a relationship with Enterprise Bank and Trust on a two-year term. The tax credit bridge loan was arranged through a relationship with INB Bank on a five-year term.
“This is going to be a very exciting project and Northmarq is thrilled to have been involved since Day One when Fireside took down the land in 2022,” said Garfinkel. “Exciting announcements on tenants to come, including a Flagship Schnucks grocery store on Lot 1.”
The Olia Village project is part of three phases and a proposed 17 parcels. Vertical construction of the first phase is scheduled to begin soon.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
