Northmarq has lined up roughly $13.7 million in acquisition financing for the Innerbelt Business Center, a nearly 192,000-square-foot flex and showroom complex in Overland just outside St. Louis. The five-year bridge loan carries three years of interest-only payments plus additional future funding to back Fountain Real Estate Capital’s plan to nudge rents up to market as existing leases roll.
Deal details
Lucas Goring and Andy Finn of Northmarq's Minneapolis Debt + Equity team arranged the financing on behalf of Fountain, with a regional bank providing the debt on what were described as aggressive terms, according to REBusinessOnline. The outlet pegged the loan at roughly $13.7 million for the 191,925-square-foot complex and noted that the package includes three years of interest-only payments plus future funding. That structure gives the sponsor breathing room to work through lease renewals, tackle light capital projects and move the asset toward a more stable cash flow profile.
Who arranged it and what they said
Northmarq’s own transaction summary places the loan at about $13.65 million for the flex campus at 1908–2000 Innerbelt Business Center Drive and confirms that Goring and Finn led the placement for the borrower. “Innerbelt is a strategic acquisition for Fountain Real Estate,” Goring said, pointing to the property’s high occupancy as a source of steady income with upside as rents are brought to market, per Northmarq. The firm describes the site as a 6.82-acre flex and showroom campus that supports warehouse and light manufacturing users.
Property and local context
The Innerbelt complex, marketed as a small-bay flex asset with freeway access, totals roughly 191,920 square feet and dates back to the 1980s, according to marketing materials and listings. MLG Capital classifies the property as Class B flex with functional small-bay layouts that tend to appeal to local tenants, while REBusinessOnline reports that Fountain plans to push rents as leases come due. That combination of an experienced sponsor, short-term bridge capital and a mostly leased flex asset fits squarely into the familiar value-add playbook in St. Louis industrial submarkets.
What it means for Overland
For Overland and nearby industrial corridors, the deal highlights that investors are still hungry for small-bay flex space despite higher borrowing costs. The lender’s willingness to extend a multi-year interest-only period along with future funding signals confidence in Fountain’s leasing and value-add strategy, according to Northmarq. Local brokers say bridge structures like this can speed up modest upgrades that keep older buildings in the game while owners work toward a longer-term refinance or eventual sale.
