KeyBank Real Estate Capital secured $54 million of fixed-rate Fannie Mae financing for Passco Companies to acquire a multifamily housing property in Chesterfield, Missouri.
Built in 2019, The Parq at Chesterfield is a 345-unit apartment complex consisting of three four-story residential buildings on 13 acres of land. Units are available in one-, two- and three-bedroom floor plans. Amenities at the pet-friendly property include a pool, spa, fitness center, business center, clubhouse and corporate suites.
Caleb Marten of KBREC’s Commercial Mortgage Group and Chris Neil of KeyBank’s Institutional Real Estate Group structured the financing.