Northmarq’s Debt + Equity team arranges refinancing of 410-unit multifamily community in Moscow Mills, MO
Photo credit: courtesy of DCIII Properties
MOSCOW MILLS, Mo. — Northmarq’s St. Louis Debt + Equity team led by David Garfinkel successfully arranged the refinancing of Quail Run, a 410-unit multifamily community located at 4 Quail Run Circle in Moscow Mills, Missouri.
Northmarq arranged the permanent-fixed financing on behalf of the borrower, DCIII Property Management, through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a 10-year term.
“We were able to close this loan, and maintain proceeds, even during this rising interest rate environment,” Garfinkel said. “The closing was smooth from start to finish, with a great team approach including the borrower and our in-house Fannie Mae platform.”
Opened in 2009 and sitting on 74.96 acres, Quail Run features 23 buildings and a variety of living options from updated apartments to spacious townhomes. Apartment units offer one-, two- and three-bedroom floor plans, while the townhomes offer three bedrooms. Unit amenities include nine-foot ceilings, open concepts, energy-efficient appliances and walk-in closets. Townhomes include private driveways and two-car attached garages.
“Quail Run represents 20 years of vision, persistence and growth,” said Donald Collier, president of DCIII Property Management. “I built this community from the ground up, and reaching this milestone is something I’m incredibly proud of David and the Northmarq team were exceptional partners and helped us execute a financing that positions Quail Run for its next stage of growth.”
Community amenities features 24-hour emergency maintenance, on-site clubhouse and community/party rooms, dog park and walking path, on-site laundry facilities and package parcel room, and playground and outdoor picnic/barbeque areas.
Set along U.S. Hwy 61 near Mette Road, Quail Run combines a quiet residential setting with easy access to the surrounding area. It is roughly 50 miles from downtown St. Louis.
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 four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
