Northmarq brokers $17.1M sale of 207-unit multifamily portfolio in Springfield, MO

SPRINGFIELD, Mo. — Northmarq’s Midwest Multifamily Investment Sales team has completed the $17.1 million sale of a two-property multifamily portfolio in Springfield, Missouri. The transaction includes Silver Springs Apartments and Maple Gardens Apartments, totaling 207 units.

Northmarq’s team — led by Dominic Martinez, Parker Stewart, Charlie McKee and Alex Malzone — represented the seller, a locally-based private investor. The buyer was a Denver-based private investor.

"We are glad we were able to assist the seller as they reposition their portfolio, moving away from multifamily assets and freeing up capital for reinvestment into other asset classes and new development. The competitive bidding process led to extremely aggressive terms from the ultimate buyer,” said Martinez.

Silver Springs Apartments

Built in 1986, Silver Springs Apartments offers 125 two-bedroom units, including townhomes. Located at 1306 N. Frisco Avenue, the property is minutes from downtown Springfield and major employers such as O’Reilly Auto Parts and Bass Pro Shops.

Maple Gardens Apartments

Maple Gardens Apartments features 82 units with one-, two- and three-bedroom floorplans. Community amenities include a pool, fitness center, picnic area and on-site laundry facilities. The property is located at 2655 W. Farm Road 164, near Chesterfield Village and the Springfield Botanical Gardens.

Springfield, Missouri continues to attract multifamily investment due to its steady population growth, strong employment base and affordable cost of living.