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

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties