The St. Louis Multifamily Investment Sales team at Northmarq, consisting of Dominic Martinez, Parker Stewart and Alex Malzone, has successfully finalized the sale and financing of a 168-unit multifamily portfolio in Columbia, Missouri known as Cross Creek Villas and The Falls of Columbia.
These build-to-rent townhome communities were constructed in 2005 and 2006 with locations at 4912 Alpine Ridge Drive and 136 Old Plank Road. Blue Field Capital was represented by Northmarq as the seller while a private investor group made their first purchase in this market. According to Stewart, providing the buyer with an attractive fixed-rate financing option helped facilitate a smooth transaction for all parties involved.
David Garfinkel from Northmarq’s St. Louis Debt + Equity office secured the acquisition loan while also arranging for permanent fixed-rate financing through Freddie Mac lending status on behalf of the borrower.
Cross Creek Villas is an animal-friendly community featuring 88 townhomes just ten minutes away from downtown area whereas The Falls of Columbia is situated right at heart offering another set comprising eighty build-for-rent townhomes to choose from.