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Northmarq Arranges $23.5M Construction Loan for Build-to-Rent Townhome Development in Missouri

The Terraces at Wildhorse Village will consist of 70 townhomes in Chesterfield.

CHESTERFIELD, MO. — Northmarq has arranged a $23.5 million loan for the construction of the Terraces at Wildhorse Village in Chesterfield, a western suburb of St. Louis. The 70-unit, luxury build-to-rent project is part of the larger Wildhorse Village, a $500 million mixed-use development. Each of the townhomes will feature three bedrooms spanning 2,250 square feet and include two-car garages. Construction is expected to begin later this summer and be completed in roughly 12 months.

David Garfinkel of Northmarq arranged the five-year, fixed-rate loan through regional bank INB. St. Louis-based Pier Property Group (PPG) was the borrower. The Terraces will be located immediately adjacent to the Flats at Wildhorse Village, PPG’s 266-unit luxury apartment development that is slated for completion in fall 2023.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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