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Northmarq Arranges Sale, Financing of St. Louis MOB
Northmarq’s Commercial Investment Sales team, led by Isaiah Harf out of Chicago and David Annett, who is based in Tulsa, and its St. Louis Debt + Equity team, led by Jada Purchase, arranged the sale and financing of ChenMed’s primary care medical office facility located at 3721 S Grand Blvd in St. Louis, Missouri.
Northmarq’s Investment Sales team represented both the seller, Atwater Group, and the buyer, Maple Street Management, in the $4.36 million deal. The sale and financing were led in collaboration with Northmarq’s Net Lease Financing team.
Northmarq arranged $2.825 million permanent-fixed financing on behalf of the borrower, Maple Street Management, through a correspondent relationship with a trusted credit union. The transaction was structured on a 10-year term with a 30-year amortization schedule.
“It was an excellent opportunity to identify the best debt available for our client that had a very complex 1031 exchange transaction,” Purchase said.
