The firm’s purchase of Steelyard & Icehouse Apartments marks its second in the metro within the last six months.
A New York-based private investor purchased the 21-building asset in St. Charles.
The market remained healthy despite little population growth, with average rents rising faster than the U.S. rate.
Developed by the St. Louis Cardinals and The Cordish Cos., the 29-story community will overlook the baseball team’s home field.
The 428-bed community is the only privately owned purpose-built facility serving scholars at Washington University in St. Louis.
Once again partnering with Cantor Fitzgerald, the firm picked up the 160-unit Tribeca for $44 million.
NorthMarq arranged $54.5 million debt and joint venture equity financing for the construction of Wildhorse, an upscale mixed-use property in the St. Louis suburb of Chesterfield, Mo.
Household creation continued at a healthy pace throughout the metro in the first five months of 2019, boosting multifamily demand and paving the way for rent growth.
Steady demand is shaping the metro’s development pipeline, as some 1,100 units came online in the first months of 2019, while another 3,550 units were underway as of May.
Kimberly Sisney will lead and oversee the operations, planning and strategy of the firm’s affordable communities located in Chicago and St. Louis.