Gateway Multifamily Group Purchases 78-Unit Apartment Community in O’Fallon, Illinois
O’FALLON, ILL. — Gateway Multifamily Group, along with its in-house property management company Tut and Tut Properties, has purchased a 78-unit apartment community in O’Fallon, about 17 miles east of St. Louis. The purchase price was not disclosed. The garden-style community will be rebranded as the Park Entrance Apartments. Gateway plans to invest an additional $2 million to $3 million in renovations. The property sits on 5.4 acres and consists of two-bedroom units averaging 1,200 square feet.