Exclusive: Storyboard Living Snaps Up 3 in St. Louis
The collection totals 270 units.
Storyboard Living has acquired three multifamily assets in metro St. Louis for $22.1 million, according to Yardi Matrix data. Commercial Development Co. sold the properties totaling 270 units.
The buyer also assumed the $18.4 million outstanding balance of three Fannie Mae loans originated in December 2021, the data provider shows. The loans have a 15-year term and were originated by CBRE Capital Markets.
The three communities are in Belleville, Ill., Swansea, Ill., and Fairview Heights, Ill., and were completed between 1965 and 1986. Amenities include swimming pools, clubhouses, business centers and laundry facilities.
The largest asset is Storyboard on Roger, previously known as Willow Park. Located at 1151 Roger Ave. in Swansea, the 120-unit property consists of 10 two-story buildings across 5 acres. The unit mix comprises one- and-two-bedroom layouts ranging from 600 to 800 square feet.
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The smallest community consists of 54 units and was rebranded as Storyboard on Lake Christine, previously known as Lake Christine Village. The four-building property is at 1841 Lebanon Ave. in Belleville and has only two-bedroom floorplans, varying from 1,000 to 1,050 square feet.
Located at 1 Park Terrace Drive in Fairview Heights, the last property to trade is Storyboard on Park Terrace, comprising 96 units. Previously known as Park Terrace, the community has 14 two-story residential buildings with one- and two-bedroom layouts ranging from 790 to 970 square feet.
St. Louis multifamily activity slows down in 2026
Multifamily investment activity in St. Louis slowed considerably in the first quarter of 2026, with transaction volume totaling approximately $48 million, a sharp decline from the $150 million recorded during the same period a year earlier. The slowdown comes as the metro maintains stable fundamentals, including above-average multifamily rent growth and a relatively active development pipeline, suggesting investors remain selective rather than absent from the market.
One of the largest deals in the first quarter of the year in the metro was the sale of The Legends on the Park, a 224-unit community in Eureka, Mo. Broadmoor Group sold the asset to Timberland Properties for $46.6 million.
