Associated Bank closed a $25.5 million loan for Timberland Partners for the acquisition of Grand Central at the Junction, a 180-unit apartment community at 6101 Grand Ave. in Wentzville, Missouri, about 40 miles northwest of St. Louis.
The newly built project features one- and two-bedroom apartments with open floorplans; gourmet kitchens with stainless-steel appliances, granite countertops, tile backsplashes and bar seating; in-unit washers and dryers; private patios or balconies; and dedicated storage.
Common amenities include a community lounge, fitness center, swimming pool, outdoor lounge and space for grilling and entertaining. The location is 40-minutes from downtown St. Louis.
Minneapolis-based Timberland Partners owns and manages a portfolio of 83 communities in 15 states for a total of more than 18,000 apartment units.