REBusinessOnline

JLL Brokers Sale of 525-Unit Multifamily Portfolio in St. Louis

ST. LOUIS — JLL Capital Markets has brokered the sale of a two-property, 525-unit multifamily portfolio in St. Louis for an undisclosed price. The properties include Cortona at Forest Park and Encore at Forest Park. Completed in 2014, Cortona offers studio, one- and two-bedroom floor plans. Amenities include a dog park, courtyard, outdoor grill area and a clubhouse with a fitness center, coffee bar, pool table, shuffleboard and business center. Encore at Forest Park, completed in 2018, …

Mia Rose Holdings Unveils Plans for Multi-Building Multifamily Project in Dardenne Prairie, Missouri

DARDENNE PRAIRIE, MO. — Mia Rose Holdings has unveiled plans for the development of Old Town Square, a multi-building apartment project in Dardenne Prairie, a western suburb of St. Louis. Mia Rose is developing the project in partnership with Benton Homebuilders and Jim Cook, Imo’s Pizza franchisee and co-owner of Sugarfire Smokehouse. The joint venture team, known as Bryan 364 Junction LLC, plans to break ground on the project in June. Completion is slated for December 2022. The …

Berkadia Secures $19.9M HUD-Insured Loan for Refinancing of Multifamily Property Near Kansas City

BLUE SPRINGS, MO. — Berkadia has secured a $19.9 million HUD-insured loan for the refinancing of Lakeview Crossing Townhomes in Blue Springs, about 20 miles east of Kansas City. Completed in March 2019 and located at 900 SE Tequesta Lane, Lakeview Crossing features floor plans ranging from one to four bedrooms. Amenities include a fitness center, clubhouse, resident lounge and pool. Kevin Kozminske and John Schorgl of Berkadia secured the HUD 223(f) loan with a 35-year term and a fixed rate. …

Block & Co. Purchases Goodyear-Occupied Property in Kansas City

KANSAS CITY, MO. — An investment group headed by Block & Co. Inc. Realtors has purchased a Goodyear Auto Service-occupied property in Kansas City for an undisclosed price. The 6,840-square-foot building is located at 7620 Wornall Road. Block & Co. will provide property management services for the asset. This is the second net-lease investment purchase for the company so far this

Loaded Elevated Nachos Opens at Streets of St. Charles in Suburban St. Louis

ST. CHARLES, MO. — Loaded Elevated Nachos is now open at The Streets of St. Charles in suburban St. Louis. The nacho concept occupies 1,400 square feet at 1450 Beale St., which is also home to Narwhal’s Crafted, Yoga Six and Napoli III. The menu boasts 10 different nacho dishes. Loaded is a new concept from the owners of Narwhal’s Crafted, a frozen drink bar. The Streets of St. Charles is a 27-acre development with retail, dining, entertainment, hospitality, multifamily and office …

General Contractor McCarthy Relocates to New Headquarters in St. Louis

ST. LOUIS — St. Louis-based general contractor McCarthy has relocated its headquarters to a new space that is nearly 30,000 square feet larger than its previous office. McCarthy Holdings Inc. will occupy the building’s third floor and staff members of the central region of McCarthy Building Cos. Inc. will occupy the second floor. The building is located at 12851 Manchester Road.McCarthy collaborated with building owner Franklin Partners to complete extensive interior and exterior …

Kansas City Multifamily Market Poised for More Growth in 2021

By Gabe Tovar, John Duvall and Kyle Tucker of NorthMarq The Kansas City multifamily market has proved it is more than resilient in the face of adversity. Throughout 2020, the market ranked consistently in the top 10 of 30 markets tracked by Yardi. It logged higher occupancies and rent growth, all while welcoming a record level of new supply. That stellar performance is likely to attract even more capital to the market in 2021.[caption id="attachment_283115" align="alignright" …

Sunpro Solar Signs 20,380 SF Industrial Lease in Riverside, Missouri

RIVERSIDE, MO. — Sunpro Solar has signed a 20,380-square-foot industrial lease at Belgium Business Park Building 2 in Riverside, just north of Kansas City. The Class A property spans 100,000 square feet and is fully leased. Mark Long and John Hassler of Newmark Zimmer represented the landlord, a subsidiary of Green Bay Packaging. Nick Tinnel of True North Industrial Realty LLC represented the tenant, which is a solar panel installation

St. Louis Board of Aldermen Approves $104M Project to Transform Historic Jefferson Arms Building

ST. LOUIS — The St. Louis Board of Aldermen has approved the $104 million project to transform the historic Jefferson Arms building in downtown St. Louis into a residential and commercial development. Construction is expected to begin in 2022 and be completed in mid-2025. Alterra Worldwide is the developer. The project has received $20 million in tax-increment financing to assist with environmental remediation and rehabilitation costs.Constructed in 1904 in anticipation of the first …

Berkadia Negotiates $24.9M Sale of Apartment Community in Suburban St. Louis

FENTON, MO. — Berkadia has negotiated the sale and financing of Turtle Creek, a 128-unit apartment community in the St. Louis suburb of Fenton. Built in 2018, the garden-style property is located at 201 Turtle Drive. Amenities include a pool, clubhouse, dog park and storage space. Ken Aston and Andrea Kendrick of Berkadia arranged the $24.9 million sale on behalf of the seller, Highgate Capital Group LLC. Mitch Sinberg and Matthew Robbins of Berkadia arranged $18.9 million in acquisition …

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