Northmarq Arranges Sale of St. Louis Metro Multifamily Property
Northmarq’s St. Louis Investment Sales team, led by Dominic Martinez, Parker Stewart, Alex Malzone and Charlie McKee, arranged the sale of Whisper Hollow Apartments, a 315-unit garden-style multifamily community located at 12430 Whisper Hollow Dr. in Maryland Heights, Missouri.
Northmarq represented the seller, Banner Real Estate Group, in the transaction. The buyer is Monarch Investment and Management Group. “We were extremely pleased to collect 21 written offers, especially for 50-year-old product in St. Louis,” Martinez said. “The competitive bidding process helped create for an extremely smooth transaction which is imperative given today’s volatile market conditions.”
Built in 1976 and renovated in 2018, Whisper Hollow sits on roughly 14.48 acres and features 13 three-story buildings. Floorplans include studio, one- and two-bedrooms. Apartments feature updated kitchens and bathrooms, stainless steel appliances, private entrances, hardwood-style floors, private patio or balcony, ceiling fans, energy-efficient doors and windows, and high-speed internet. It is roughly 20 miles from downtown St. Louis.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout