Noah Juran, senior vice president/managing director of NorthMarq’s Cincinnati office, collaborated with David Garfinkel, senior vice president/managing director of NorthMarq’s St. Louis office, to finalize the $24.735 million refinance of Spanish Cove Townhomes in St. Louis.
The 784-unit multifamily property is located at 1708 San Remo Court in St. Louis. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged the permanent-fixed rate loan for the borrower through its relationship with a national bank.
The community consists of 100 percent townhome units located on 38 acres, was constructed in 1971 and underwent a significant renovation from 2015 to 2018. Property amenities include a pool, clubhouse, fitness center, business center, recreation room, media room, playground, on-site laundry facility and a concierge.
The property has great access to shopping and schools as it is located minutes from I-270 and Lewis and Clark Blvd and directly off of Bellefontaine Road.