Multifamily - Debt

Northmarq finalizes $46 million construction loan for The Flats at Wildhorse Village in Chesterfield, Missouri

ST. LOUIS, MISSOURI (January 4, 2022) – David Garfinkel, senior vice president/managing director of Northmarq’s St. Louis-based regional office, completed the $46 million construction loan for The Flats at Wildhorse Village. The 266-unit class A luxury apartment property will be located at 350 Wildhorse Lake Blvd in Chesterfield, Missouri. Northmarq arranged financing for the borrower, Pier Property Group (PPG), through its relationship with UMB Bank. Construction is slated for completion in summer 2023. 

“We were thrilled to be engaged by Michael Hamburg of PPG to work on the construction financing of this A-quality asset, in an unbelievable location in our high-end suburb of Chesterfield, Missouri,” said Garfinkel. “We were able to secure a great loan, with a great Lender and everyone was very pleased with the end result and process.”

“It was a pleasure working with Northmarq again on this transaction.  Mr. Garfinkel has continued to prove himself as an expert in multifamily finance, offering longstanding lender relationships that truly make a difference,” said Michael Hamburg, Pier Property Group’s owner.

The property is conveniently located in the high-end suburb of Chesterfield and offers great access to Interstate 64. It is a part of Wildhorse Village, an 80-acre mixed use development which includes apartments, townhomes, office and retail uses. The ambitious project is being positioned as the new ‘Downtown’ of Chesterfield and is centered around a large lake surrounded by boardwalks, trails, a floating garden, amphitheater, public art installations, and gathering spaces such as picnic lawns, and terraced plazas. A “main street” lined with pedestrian-friendly buildings will wrap around the lakefront, with multiple restaurants offering lakefront dining.

Other nearby attractions and points of interest include: TopGolf, Spirit of Saint Louis Airport, St. Luke’s Hospital, Maryville University, Chesterfield Amphitheater and numerous parks and recreational activities. 

The Flats will contain 266 luxury apartment units and a 405-space parking garage on four floors surrounding an oversized resort style pool and activity deck. Other amenities include: fitness center with yoga/cycling room, dog park, dog spa, business center, and bike storage. Units will possess oversized balconies, unobstructed lake views, fiber wireless internet, and high-end finishes, such as quartz countertops, stainless steel appliances, tile shower surrounds, and custom flooring.

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.