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Construction Financing Secured for Historic St. Louis Dogtown MF
Indianapolis-based Pearl Companies secured more than $20 million in financing for the construction of Hibernia Apartments in St. Louis’ Dogtown neighborhood. The 100-unit apartment complex will include 16,000 square feet of ground-floor retail space that is set to be occupied by a local grocer.
Pearl Companies’ Jeff Tegethoff says, “We are very excited about the development of the Hibernia Apartments in the historic neighborhood of Dogtown. We have been working on the development for over a year and are excited to break ground in the near future. NorthMarq found us a great local banking relationship, and we are looking forward to adding this property to a great neighborhood.”
NorthMarq Capital’s David Garfinkel and Dan Baker represented the borrower to arrange financing through its relationship with The Bank of Washington, one of the oldest and largest independent community banks in the St. Louis area.
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