St. Louis
On the Market: 5 Interesting Listings for the Week of 6/4
This week’s listings include an upscale community six miles from the Las Vegas Strip, a privately owned property in Phoenix’s growing South Mountain Village area, and more.
Terra Properties Nabs St. Louis-Area Community
The firm financed the acquisition of the 128-unit market-rate asset with a $510,000 Fannie Mae loan originated by Dougherty Mortgage.
Mills Properties Trades St. Louis Community
Brass Enterprises picked up the 178-unit Class A luxury property, which opened in 2016 and includes a Whole Foods Market on the ground floor.
GEM Property Management Exits St. Louis in $180M Sale
The nearly 2,000-unit portfolio sale is the largest multifamily transaction in the city’s history, encompassing six communities in southern St. Louis County.
Record Supply Moderates Rent Growth in St. Louis
The city’s job gains are somewhat middling, but a below-trend unemployment rate means that housing continues to be in high demand.
ERC to Build St. Louis-Area Luxury Apartments
The developer plans to break ground on the 220-unit high-end community in May this year and complete construction by early 2019.
NorthMarq Capital Arranges $20M for St. Louis Community
Hibernia Apartments, a 100-unit property, includes a 16,000-square-foot ground-floor retail space that will be filled by a grocery store.
Top 10 St. Louis Apartment Owners
Several local investors have emerged as the city’s top community buyers, due to the city’s emerging startup scene and business-friendly environment.
Draper and Kramer Opens St. Louis Apartments
The Flats at EVO include 46 townhomes in Richmond Heights, Mo. This marks the second phase of EVO, which features an adjacent four-story, 281-unit community that opened last year.
PGIM Adds to St. Louis Office
Richard Orf will fill the deputy chief underwriter position, while Tiffany Baymiller will be the new closing manager for the firm’s Federal Housing Administration lending program.