Banner Sells 400-Unit Community Near St. Louis

The property previously changed hands 17 years ago for $35.6 million.

Enclave at Winghaven is a 400-unit community in O'Fallen, Mo.

Enclave at Winghaven came online in 2001. Image courtesy of Yardi Matrix

Banner Real Estate Group has sold Enclave at Winghaven, a 400-unit community in O’Fallon, Mo., with the assistance of Northmarq. The buyer was a New York-based private capital group.

The property previously traded 17 years ago for $35.6 million, or approximately $89,000 per unit, according to Yardi Matrix data. The seller was Bomasada Group.

Located at 1000 Applerock Drive, Enclave at Winghaven is roughly 34 miles northwest of downtown St. Louis. Nearby entertainment options include numerous parks and a hiking area within a 10-mile radius, as well as a country club located 1.5 miles away. Mid Rivers Mall is 12 miles northeast.

Completed in 2001, the community encompasses 15 three-story buildings with one-, two- and three-bedroom floorplans. Apartments range from 714 to 1,487 square feet. In-unit features include stainless steel appliances, private balconies and patios. Common-area amenities at the 20-acre property comprise a fitness center, clubhouse, business center, swimming pool and spa, alongside volleyball and tennis courts.

Northmarq Managing Director Dominic Martinez, Regional Managing Director Parker Stewart and Vice President Alex Malzone represented the seller. Martinez and Stewart were also instrumental in the sale of a 456-unit multifamily community in Kansas City, Mo.

More than 5,500 multifamily units have changed hands in St. Louis metro since the beginning of the year, the same source shows. The per-unit price averaged $139,700.

You May Also Like