St. Louis
St. Louis Multifamily Report – Summer 2019
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.
Top 5 St. Louis Completions in 2019
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.
The Habitat Co. Hires New VP
Kimberly Sisney will lead and oversee the operations, planning and strategy of the firm’s affordable communities located in Chicago and St. Louis.
St. Louis-Area Assisted Living Communities Change Hands
Cedarhurst Living partnered with Triloma Seniors Housing on the acquisition of two properties totaling 135 units in Madison County. Cedarhurst will manage the communities.
Timberland Partners Expands Multifamily Portfolio
The transactions are the company’s fifth property in the St. Louis metro and first in the state of Arkansas.
St. Louis-Area Community Opens Doors
ZM Management broke ground on the 381-unit development in 2013. The owner financed construction with two loans totaling $21 million.
5-Building St. Louis Community Changes Hands
The 104-unit Tuscany Village, built in 1972, last traded in 2014 for nearly $3 million, six months after a foreclosure action.
St. Louis Makes Modest Gains
The metro’s multifamily market continues to improve at a middling rate, as its population and job market grow at a pace below the national average.
CAPREIT Lands $77M Refi for Midwest Portfolio
The assets include The Kensington at Beverly Hills in Michigan, Valle Vista Armes Apartments in Indiana, Greenway Chase Apartments in Missouri and Pointe West Apartments in Iowa.
Lexington Corp. Sells St. Louis-Area Community
The buyer, Siesta Coast Capital, paid $4.3 million for the 120-unit multifamily asset. The property last changed hands in mid-2008 for $4.5 million.