Passco Companies has acquired a luxury Class-A multifamily asset in Chesterfield, Missouri, from Watermark Residential for $98 million.
The firm will rebrand the 345-unit community, previously named Watermark at Chesterfield Village, as The PARQ at Chesterfield.
The asset’s community amenities include a resort-style swimming pool, 24-hour fitness center, a Starbucks coffee bar, private open-air courtyards, an outdoor firepit area, custom grilling stations, focus rooms, corporate suites, 24-hour package pick-up and monthly resident activities. The pet-friendly community also features a dog wash on site.
The PARQ at Chesterfield offers a range of one-, two-, and three-bedroom units that feature nine- or eleven-foot ceilings, full size washers and dryers, garden tubs, a modern gourmet bar kitchen, granite countertops, a private patio or balcony, and a walk-in closet, with wood-look flooring in select units.
The PARQ at Chesterfield is located at 16300 Lydia Hill Drive in Chesterfield. Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing on behalf of Passco Companies.