Berkadia arranged the sale and financing of Turtle Creek, a 128-unit Class-A multifamily asset in St. Louis, Missouri.
Managing director Ken Aston and senior director Andrea Kendrick of Berkadia’s St. Louis office arranged the $24.9 million sale on behalf of the seller, Highgate Capital Group, LLC. Senior managing director Mitch Sinberg and associate director Matthew Robbins of Berkadia’s Boca Raton office secured $18.9 million in financing on behalf of the buyer, RM Communities.
Berkadia originated and Freddie Mac purchased the 10-year, fixed rate Green Up loan with 5 years IO.
The buyer, RM Communities, is the direct-acquisition arm of RealtyMogul, one of the top online real estate investing platforms with 200,000+ investors across a $2.8 billion portfolio.
Built in 2018, Turtle Creek is located at 201 Turtle Drive. Two-bedroom units include granite countertops, an island kitchen, stainless steel appliances, hardwood floors, walk-in closets and washer/dryer. Community amenities feature a swimming pool, clubhouse, storage space grill and dog walking park.
Located in the St. Louis suburb of Fenton, the community is located along Highway 141, bringing residents within a 30-minute drive of Downtown St. Louis.
