Thursday, June 12, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Missouri

AcquisitionsMidwestMissouriMultifamily

CAPREIT Purchases Two Apartment Communities in Suburban St. Louis

by Kristin Harlow

O’FALLON AND WENTZVILLE, MO. — CAPREIT has purchased two apartment communities in St. Charles County within suburban St. Louis. The purchase price was $45 million, according to the St. Louis Business Journal. The properties include the 256-unit Peine Lakes in Wentzville and the 266-unit O’Fallon Lakes in O’Fallon. Peine Lakes is home to 205 affordable housing units and 5 market-rate units. Both properties feature units that range in size from 802 to 1,157 square feet. The seller was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriMultifamily

Marcus & Millichap Brokers $18.5M Apartment Portfolio Sale in Independence, Missouri

by Kristin Harlow

INDEPENDENCE, MO. — Marcus & Millichap has brokered the $18.5 million sale of a 455-unit apartment portfolio in Independence, about 10 miles east of Kansas City. The three properties include the 193-unit Cimmaron, the 108-unit Hillside Apartments, and the 154-unit Sterling 24 Apartments. The portfolio was more than 95 percent occupied at the time of sale. Bradley Barham and Logan Weaver of Marcus & Millichap brokered the 1031 tax-deferred exchange. Neither the buyer nor the seller was disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMissouriMultifamily

Pinnacle Contracting to Complete $9M Apartment Conversion in St. Louis

by Kristin Harlow

ST. LOUIS — Pinnacle Contracting Inc. has been selected by St. Louis-based developer Pier Property Group to complete the $9 million historic renovation and conversion of the Steelcote Manufacturing Co. paint factory in St. Louis. Pinnacle will transform the 42,000-square-foot property into 33 apartment units. The original five-story building will house 31 units. A second adjoining structure will house the leasing office and bike storage. A third building will be home to two additional units. Steelcote, a rubber enamel coating company, opened the building in 1922. The facility has been vacant since 2006. Architect Trivers Associates and structural engineer KPFF Consulting Engineers make up the project team. Completion is slated for spring 2019.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityMidwestMissouri

Midas Opens Dual-Branded Marriott Hotel in Western Suburb of St. Louis

by Kristin Harlow

WEST COUNTY, MO. — Midas Hospitality has opened a dual-branded Residence Inn and Courtyard by Marriott in West County near St Louis. Midas will manage both the 101-room Residence Inn and the 110-room Courtyard by Marriott. The four-story, 136,000-square-foot hotel is located at the intersection of Manchester Road and I-270. Developer Commercial Development Co. Inc. will own the property. MC Hotel Construction built the hotel. Amenities include a fitness center, indoor pool, meeting rooms and outdoor gathering space. The Courtyard Bistro features a variety of dining options.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriOffice

Howard Commercial Arranges Sale of 4,000 SF Office Building in Kirkwood, Missouri

by Kristin Harlow

KIRKWOOD, MO. — Howard Commercial has arranged the sale of a two-story, 4,000-square-foot office building in Kirkwood, a suburb of St. Louis. The sales price was not disclosed. The building, located at 108 N. Kirkwood Road, includes first-floor retail space. Howard represented the buyer, Bean Realty, which plans to open a specialty popcorn retail store within the retail space. A digital marketing company occupies the second floor.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriOffice

Franklin Partners Acquires 174,965 SF Corporate Hill Office Building in St. Louis

by Kristin Harlow

ST. LOUIS — Franklin Partners has acquired the 174,965-square-foot Corporate Hill IV office building in St. Louis for an undisclosed price. The six-story building was constructed in 1984 and renovated in 2015. Amenities include a full-service cafeteria, one loading dock and exterior balconies on the fifth and sixth floors. A single tenant previously occupied the property. TJ Redmond of CBRE represented the undisclosed seller. Mark Palmer and Artie Kerckhoff of CBRE represented Franklin Partners. The duo will also market the property for lease.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityMidwestMissouri

Springfield Hospitality Purchases Holiday Inn & Suites in Springfield, Missouri

by Kristin Harlow

SPRINGFIELD, MO. — Springfield Hospitality Inc. has purchased the 188-room Holiday Inn & Suites in Springfield for an undisclosed price. Located at 2720 N. Glenstone Ave., the hotel features amenities such as a heated indoor pool, fitness center, complimentary Wi-Fi and the Peppertree Restaurant and Cocktail Lounge. Nate Sahn, Pravin Boteju, James Foxx and Tom Adamson of CBRE Hotels represented the undisclosed seller in the sale.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMissouriMultifamilySeniors Housing

Lutheran Senior Services Begins $70M Independent Living Expansion in Missouri

by Kristin Harlow

TOWN AND COUNTRY, MO. — Lutheran Senior Services has started construction of an independent living expansion of Mason Point, a seniors housing community in the St. Louis suburb of Town and Country. The $70 million expansion will add 156 new units to the community, as well as new amenities. The project will include a three-story, 390,000-square-foot building with underground parking, a wellness center and an indoor pool. The new property will connect to an adjacent building that will be renovated to become a community center featuring dining venues, a media room, theater, game room, chapel, art studio, health clinic and meeting rooms. Nearly half of the new apartments have already been reserved, according to Lutheran Senior Services. BSI Constructors is the general contractor, and the project architect is Grubbs and Associates. The project is scheduled for completion in summer 2020. Lutheran Senior Services acquired the community, formerly known as Cedars of Town & Country, in February 2016. The new independent living units will convert the property into a continuing care retirement community, offering all levels of care. The additional 156 new beds will bring Mason Pointe’s total to 408 beds. This includes the existing 164 long-term care beds along with 43 …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriMultifamilySeniors Housing

Griffin-American Purchases 1,112-Bed Skilled Nursing Portfolio in Missouri for $88.2M

by Kristin Harlow

MISSOURI — Griffin-American Healthcare REIT IV Inc., which is co-sponsored by American Healthcare Investors and Griffin Capital Co. LLC, has acquired a portfolio of skilled nursing facilities located throughout the state of Missouri for $88.2 million. The portfolio comprises eight facilities totaling 1,112 licensed beds and approximately 385,000 square feet. Affiliates of Reliant Care Management Group sold the properties, and will continue to operate them under a 15-year absolute net lease with two 10-year renewal options. (Under terms of an absolute net lease, the tenant is responsible for all expenses and repairs relating to the building, including the roof and structure.) The lease includes annual rent escalations tied to the consumer price index with a floor of 2 percent and a cap of 3 percent. Griffin-American Healthcare REIT IV financed the acquisition using cash on hand and borrowings under its revolving line of credit with Bank of America NA and Keybank NA. The specific names and locations of the properties were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMissouriMixed-Use

Remiger Design Unveils Master Plan for Redevelopment of Former Crestwood Mall in Suburban St. Louis

by Kristin Harlow

CRESTWOOD, MO. — Architectural firm Remiger Design has unveiled a master plan for the redevelopment of the former Crestwood Mall in suburban St. Louis. Remiger is working with Chris Cedergreen, a commercial real estate design advisor. Plans call for more than 794,000 square feet of retail, office and residential space. The retail portion will feature 160,000 square feet, including a pharmacy, four outlots and a cinema. The office portion will include 240,000 square feet of office and medical space. The residential component will feature a four-story building with amenities such as a fitness room, pool and outdoor meeting area. Plans call for nearly 3,000 parking spaces. Known as Crestwood City Center, the development will connect to Grant’s Trail, a greenway. Crestwood Mall, which once housed more than 100 retailers in 1 million square feet, closed in September 2013. Owner UrbanStreet Group has completed the environmental remediation and demolition of the mall. Walpert Properties Inc. is the project developer. HBD is the general contractor. Pam Hinds and Christopher Zoellner of Balke Brown Transwestern will market the office and retail portions for lease. The target date for completion of the office portion is January 2020.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts