Finance X Missouri

CBRE arranges financing for 100-unit apartment complex in Missouri

CBRE arranges financing for 100-unit apartment complex in Missouri,ph01

CBRE has arranged construction financing for Creekside Town Center, a 100-unit apartment complex and 44,000-square-foot retail center in Parkville, Missouri. CBRE|Capstone’s John Perlik and Don Coleman arranged the more than $13.2 million loan from a local credit union on behalf of their client, Brian Mertz.

The loan has a 4.25 percent interest rate, is amortized over 25 years and carries an 80 percent loan-to-cost ratio.

Creekside Town Center will be located near the intersection of Missouri Highway 45 and I-435. Mertz has other planned developments nearby, including six high-quality tournament baseball fields, a tourism area with a hotel, two restaurants, an office property and a gas station.

Creekside Town Center will be the centerpiece of the southeast corner of the mixed-use development.