Parker Stewart, managing director; Dominic Martinez, vice president; and Alex Malzone, associate vice president of Northmarq’s St. Louis investment sales team, arranged the $70 million sale of Bold on Blvd. in St. Peters, Missouri.
The 272-unit class-A multifamily property is located at 1100 St. Peters Centre Blvd. in St. Peters. Construction of this luxury building was completed during the spring of 2022 and the property was about 80% occupied when it was sold at the end of December.
Northmarq represented the seller, TWG Development, in the transaction. The buyer was a private New Jersey-based firm. Northmarq’s debt/equity team, led by David Garfinkel, managing director, arranged financing for the buyer.
The trophy-quality asset includes an attractive mix of studios, 1- and 2-bedroom floor plans featuring large open-concept spaces, kitchens with islands, stainless steel appliances, private balconies, and an extensive amenities package. Residents of the affluent area enjoy highly rated schools and a high quality of life, as evidenced in the wide range of shopping, dining options and outdoor activities available. Bold on Blvd also benefits from close proximity to employment hubs, including Amazon, FedEx, and Boeing.
