GMH, AGC Equity Sell St. Louis Student Housing Property

Everly on the Loop. Image courtesy of Newmark

GMH Capital Partners LP and AGC Equity Partners have sold Everly on the Loop, a 209-unit, 428-bed student housing community in St. Louis, Mo., adjacent to Washington University.

R5 acquired the asset and assumed a $49.4 million acquisition loan provided by Metropolitan Life Insurance Co., back in 2019, public records show. Newmark represented the sellers in the transaction.

Completed in 2017, the 11-story building comprises a mix of studio to three-bedroom units, ranging from 611 to 1,251 square feet with in-unit Smart TVs, laundry facilities and bike storage. Common-area amenities include a rooftop deck with a swimming pool, a fitness center, a yoga and spin studio, a coffee bar, a computer lounge and a private shuttle to campus.

Located at 6105 Delmar Blvd., the community is within half a mile of the Washington University campus and near numerous dining and retail options. Forest Park is within 1.3 miles of the property, while STL Zoo is within 2.2 miles. St. Louis city center is some 6 miles east of the community.

There is reason to remain confident in the student housing sector, given the $400 million transaction volume Newmark closed on in recent weeks, Vice Chairman Ryan Lang commented in prepared remarks. Lang worked alongside Vice Chairman Mac Crowther, Managing Director Jack Brett and Director Ben Harkrider in the transaction. Recently, the team represented The Collier Cos. in the $68 million sale of Seminole Grand, a 1,557-bed property in Tallahassee, Fla.