Northmarq Arranges Sale and Financing of St. Louis Medical Office Building
Northmarq’s Commercial Investment Sales team, led by Isaiah Harf based in Chicago and David Annett from Tulsa, along with its St. Louis Debt + Equity team headed by Jada Purchase, has successfully arranged the sale and financing of a primary care medical office facility leased to ChenMed. The property is located at 3721 S. Grand Blvd in St. Louis, Missouri.
The Investment Sales team represented both the seller, Atwater Group, and the buyer, Maple Street Management, in this $4.36 million transaction. The deal was facilitated in collaboration with Northmarq’s Net Lease Financing team.
On the financing side, Northmarq secured $2.825 million in permanent-fixed financing on behalf of Maple Street Management. The financing was arranged through a correspondent relationship with a credit union and was structured on a 10-year term with a 30-year amortization schedule.
“It was an excellent opportunity to identify the best debt available for our client that had a very complex 1031 exchange transaction,” said Jada Purchase.
The transaction highlights Northmarq’s ability to structure comprehensive investment and financing solutions for complex real estate deals across markets.
