NorthMarq Represents Seller In $70 Million Sale Of Multifamily Asset In Wentzville Missouri

The transaction involves the sale of a multifamily asset, specifically a 381-unit garden-style apartment community known as Villages at Lake Silvercote, located at 100 Dry Brook Road in Wentzville, Missouri. The property was sold for $70 million, with a price per unit of $183,727. This asset signifies a significant transaction within the market, reflecting investor interest in the area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $70,000,000
• Units: 381
• Price Per Unit: $183,727
• Address: 100 Dry Brook Road
• Market: Wentzville, MO

NorthMarq executed the brokerage for the $70 million transaction, representing a local investment group as the seller and facilitating the sale to a private firm as the buyer. The engagement attracted considerable interest, with 32 offers submitted, reflecting the robust demand for value-add multifamily assets within the rapidly developing St. Charles County submarket.