Northmarq Arranges Construction Loan for St. Louis-Area Townhomes
David Garfinkel, SVP/managing director of Northmarq’s St. Louis-based regional office, negotiated a $23.5-million construction loan for the Terraces at Wildhorse Village, a 70-unit, Class A, luxury townhome development in Chesterfield, MO. The project is part of Wildhorse Village, a $500 million, 80-acre mixed-use development.
Northmarq arranged the financing for the borrower/developer, St. Louis-based Pier Property Group (PPG), through its longstanding relationship with regional bank INB. This is the fourth construction loan that Northmarq has secured for PPG, a prolific multifamily developer in the St. Louis market, through multiple bank lenders. These loans have totaled more than $125 million.
“We were excited to work with Michael Hamburg, owner of PPG, on the construction financing of this high-quality asset in an incredible location in Chesterfield,” Garfinkel said. “Also, Mr. Hamburg sees the value of working with Northmarq on the construction lending side.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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