St. Louis
Startup Scene Boosts St. Louis Rental Market
Following the path of other Midwestern metros, the city is slowly transforming from an industrial center into a modern city with solid job gains in the health-care, business and technology sectors.
Opus Completes 2nd Missouri Luxury Community
The 120-unit Ceylon Luxury Apartments is located in Clayton and joins the recently completed Citizen Park. Smoothie King will be the community’s first retail tenant.
Campus Advantage Adds 2 in MO
The Lyfe and The Row add a total of 778 beds to the company’s portfolio. Both communities cater to students attending the University of Missouri in Columbia.
St. Louis Gears Up
Despite a slowly declining population, the city continues to see positive economic trends driven by job gains in education and health services, leisure and hospitality, and professional and business services.
Berkadia Leads Sale of 528-Unit St. Louis Community
Lipton Group sold the three-building Pheasant Run community, located near downtown St. Louis. The average rental rate was $882 as of May.
Griffin-American Healthcare REIT Nabs Senior Housing Portfolio
American Healthcare Investors and Griffin Capital Co. LLC’s REIT acquired a five-building portfolio of independent and assisted living properties. The portfolio is 100 percent leased.
Opus Completes 217-Unit Luxury Community
Together with AIG Global Real Estate, the company recently completed Citizen Park, a 10-story luxury community situated in the heart of the historic Central West End neighborhood of St. Louis. The firm also landed its first tenant for the retail component.
BRT Nabs 3 St. Louis Luxury Communities
Through joint venture partnerships, the REIT purchased Vanguard Heights, The Tower at OPOP and The Lofts at OPOP for some $75 million. Meridian Capital Group arranged financing for all three acquisitions.
Dougherty Closes on St. Louis Affordable Community
The company has arranged a 35-year term loan for the 95-unit community. The property was built as a hotel in 1963, and in 2007 it was converted to a multifamily community.
Gateway Procures Suburban St. Louis Apartments
The 78-unit community in St. Clair County is the company’s third local acquisition in three years.