Parq at Chesterfield
|Deal Type||Fannie Mae|
The transaction includes a $53,900,000 ($156,232/unit) non-recourse, first mortgage loan secured by a 345-unit, low-rise apartment community, known as The Parq at Chesterfield, located in Chesterfield, MO. Built in 2019, the improvements consist of three, four-story residential buildings, situated on 12.89 acres of land. The proposed loan will be used to facilitate the acquisition of the property. The loan is structured with a 10-year term, and subsequent to a 7-year interest only period, amortizes on a 30-year schedule.