St. Louis-Based Balke Brown Transwestern Opens New Multi-Family Management Division With 1,050 Units
- May 09, 2012
St. Louis—Privately held St. Louis commercial real estate developer, manager and broker Balke Brown Transwestern added Christopher Zoellner, founder of Clayton, Mo.-based retail specialist Foundation Commercial, and some of that company’s brokers to the Balke Brown brokerage division. It has also recruited 19-year industry veteran Deanna Haas as vice president of residential management and is forming a new multi-family management division that will initially employ 15 people. The new division will pursue third-party management opportunities in Illinois and Missouri according to Steve Brown, principal.
Founded by Zoellner in 2005, Foundation Commercial specializes in retail brokerage and tenant representation. Zoellner, with 17 years industry experience, will join Balke Brown in mid-May as senior vice president – retail. Joining him will be Foundation brokers Jared Hancock and Mike Hurley and marketing director Sarah Saputo. Foundation currently markets more than 65 properties and land parcels in Missouri and Illinois and is tenant representative for more than 25 companies including Bridgestone/Firestone, CVS Pharmacy, MassageLuxe, Qdoba, Texas Roadhouse and White Castle.
Balke Brown will jump-start its new multi-family management division with three company-developed properties totaling 550 units and valued at more than $100 million: Pointe 400 and The Lofts at the Highlands in the City of St. Louis and the newly completed Parkway Lakeside in O’Fallon, Ill. Additionally, it has two other apartment projects totaling about 500 units and valued at $75 million in its pipeline. All projects fit the exclusive, upscale market niche in which Balke Brown specializes.