Office X Missouri

NorthMarq provides $3 million loan for St. Louis retail/office center

NorthMarq provides $3 million loan for St. Louis retail center,ph01

Jeffrey Chaney, senior vice president/managing director of NorthMarq’s St. Louis-based regional office, secured $3.5 million in acquisition financing for Balmoral Plaza in St. Louis.

The office/retail property is located at 443-465 North New Ballas Road in St. Louis. The property contains 12,720 square feet of office space located above 12,020 square feet of retail space.

The 10-year term loan features a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower, Cape Jackson SLB, through its correspondent relationship with a life insurance company.