St. Louis-Area Community Opens Doors

ZM Management broke ground on the 381-unit development in 2013. The owner financed construction with two loans totaling $21 million.
Villages at Lake Silvercote

ZM Management has completed the final phase of the Villages at Lake Silvercote, a 381-unit development in the outer suburbs of St. Louis, according to Yardi Matrix. The developer financed the project, which broke ground in early 2013, with a $10 million construction loan from Great Southern Bank and a $11 million Fannie Mae mortgage originated by Hunt Real Estate Capital.

Located at 100 Dry Brook Road in Wentzville, Mo., the garden-style community’s 33 buildings are situated on approximately 37 acres alongside U.S. Highway 61, roughly 40 miles northwest of downtown St. Louis. The asset is a stone’s throw from a General Motors assembly plant, and within 3 miles of the Wentzville Parkway retail corridor, just north of Interstate 70.

The Villages at Lake Silvercote contains a mix of one- to three-bedroom apartments and three-bedroom townhouse units, with floorplans between 833 and 1,300 square feet. Community amenities include a swimming pool, fitness center, clubhouse and playground.

Some 5 miles south of the Villages at Lake Silvercote, ERC Building Co. announced plans to develop 220 luxury apartments. The project, known as PURE, will be situated next to the Meadows at Lake St. Louis retail district.

Image courtesy of Yardi Matrix