Northmarq arranges $18M HUD loan for 220-unit housing community in Greater St. Louis

Southernside Apts

Debt & Equity

Multifamily

Fannie Mae/FHA

O’FALLON, Mo. — Eugene Harris of Northmarq’s St. Louis Debt + Equity team secured more than $18 million in HUD financing for Southernside Apartments, a 220-unit affordable housing community in O’Fallon, Missouri, part of the Greater St. Louis metropolitan area.

Northmarq arranged the loan on behalf of Hennessey Construction Co., through a correspondent relationship with HUD. The transaction was structured on a 35-year term.

“HUD offered the highest proceeds, which was the borrower’s primary objective,” said Harris. “It was the most effective solution to support the long-term success of this housing community.”

Southernside Apartments offers a blend of affordability and upscale amenities in a rapidly growing St. Charles County submarket. The community features one-, two- and three-bedroom floor plans with 9-foot ceilings, private patios or balconies, fully equipped kitchens, and washer/dryer connections. Select homes offer scenic views of the on-site pond or landscaped grounds.

Residents enjoy access to a suite of resort-style amenities, including a sparkling swimming pool and separate children’s pool, a 24/7 fitness center, game room, business center and Wi-Fi-enabled great room. Additional conveniences include covered parking, walking trails, and proximity to nearby golf courses, parks and retail corridors.

Located just minutes from I-64/US-40, Southernside is well-positioned near top-rated schools and a variety of dining and shopping destinations, making it an attractive option for families and individuals seeking quality affordable housing in the region.

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About Northmarq

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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.