Wednesday, July 23, 2025
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LoansMidwestMissouriMultifamily

Meridian Capital Arranges $29M Bridge Loan for Acquisition of Multifamily Property in Creve Coeur, Missouri

by Kristin Harlow

CREVE COEUR, MO. — Meridian Capital Group has arranged a $29 million bridge loan for the acquisition of Vanguard Heights in Creve Coeur, a western suburb of St. Louis. The luxury multifamily property consists of 174 units and is located at 10362 Old Olive St. Amenities include a fitness training studio, valet dry cleaning service, car charging station, heated salt water swimming pool and fire pit lounge area. Shaya Ackerman and Shaya Sonnenschein of Meridian Capital arranged the 15-month loan, which features a floating rate of 250 basis points over the 30-day LIBOR rate and full-term, interest-only payments. Strategic Properties of North America was the borrower.

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Robert A. Young Federal Building
MidwestMissouriOffice

IFS Begins Work on $10M HVAC Project at Federal Building in St. Louis

by Jeff Shaw

ST. LOUIS — Integrated Facility Services (IFS) has begun work on a $10 million HVAC, plumbing and fire protection renovation project at the Robert A. Young Federal Building, a 1 million-square-foot property in downtown St. Louis. The project is part of design-build contractor McCarthy Building Cos.’ $62 million seismic retrofit of the 20-story building’s mechanical systems. The building, which was built in 1933 and is currently owned and managed by the U.S. General Services Administration, houses nearly 3,000 employees across roughly 40 federal agencies.

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MidwestMissouriRestaurantRetail

Freddy’s Frozen Custard & Steakburgers Opens 3,625 SF Restaurant in Raytown, Missouri

by Jeff Shaw

RAYTOWN, MO. — Freddy’s Frozen Custard & Steakburgers has opened a new, 3,625-square-foot location at 10019 E. 350 Highway in Rayotwn, a southeastern suburb of Kansas City. The new restaurant will be part of Block & Co. Inc.’s Raytown 350 Development, which includes an IHOP and is located across from a Walmart Super Center.

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LoansMidwestMinnesotaMissouriOhioWisconsin

KeyBank Arranges $12.7M Loan for Refinancing of Parking Facility Portfolio in Midwest Region

by Kristin Harlow

OHIO, MINNESOTA, MISSOURI AND WISCONSIN — KeyBank Real Estate Capital has arranged a $12.7 million loan for the refinancing of the MVP Portfolio, which consists of six surface parking lots and garages across the Midwest and in Colorado. Totaling 994 parking spaces, the properties are located in Cleveland, Ohio; St. Paul, Minn.; St. Louis; Milwaukee; and Denver. Randy Martin of KeyBank arranged the 10-year loan, which includes a 25-year amortization schedule. A CMBS lender provided the loan.

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CivicMidwestMissouri

McCarthy Breaks Ground on Multi-Building Project at Washington University in St. Louis

by Kristin Harlow

ST. LOUIS — McCarthy Building Cos. Inc. has broken ground on a multi-building project at the east end of Washington University’s Danforth Campus in St. Louis. McCarthy is constructing three new academic buildings, two multi-use pavilions and an underground parking facility. The project also includes a new landscape and an expansion of the Mildred Lane Kemper Art Museum. Notable components include Anabeth and John Weil Hall, an 82,100-square-foot interdisciplinary building that will serve as the new front door to the Sam Fox School of Design & Visual Arts. The majority of the construction is slated for completion prior to spring 2019 commencement.

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MidwestMissouriRetail

Construction of $54M Shopping Center Underway in St. Peters, Missouri

by Kristin Harlow

ST. PETERS, MO. — Knoebel Construction Inc. has nearly completed shell construction of The Shoppes at Mid Rivers in St. Peters. The interior build-out is scheduled to begin in June. The 270,000-square-foot shopping center is the largest mall to be built in St. Charles County since 2008. The property includes 14 buildings on 28 acres. The $54 million project is slated to open this fall. Confirmed tenants include Academy Sports + Outdoor, Burlington, Ross Dress for Less, Marshalls, Home Goods, Ulta Beauty, Five Below and Famous Footwear. Aspen Dental will be located on one of the four outparcels. GBT Realty Corp. is developing the center.

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HealthcareMidwestMissouri

McCarthy Completes $40M Outpatient Building at Hospital in Chesterfield, Missouri

by Kristin Harlow

CHESTERFIELD, MO. — McCarthy Building Cos. Inc. has completed construction of a new 106,000-square-foot outpatient services building on the west campus of St. Luke’s Hospital in Chesterfield. The $40 million St. Luke’s Outpatient Center Building B adjoins the hospital’s Mr. and Mrs. Theodore P. Desloge Jr. Outpatient Center. The five-story structure provides additional space for new physician offices as well as the expansion of St. Luke’s physical therapy and cardiac rehabilitation services. Other St. Luke’s services that have relocated to the building include EEG/EMG; the nutrition wellness and diabetes center; the anticoagulation clinic; and wound care and hyperbaric medicine. BSA LifeStructures Inc. designed the building.

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MidwestMissouriMultifamily

Berkadia Negotiates Sale of 182-Unit Multifamily Property in St. Louis

by Kristin Harlow

ST. LOUIS — Berkadia has negotiated the sale of Beau Jardin, a multifamily property located at 10347 Sannois Drive in St. Louis, for an undisclosed price. Built in 1963, the 182-unit property features one- and two-bedroom apartments. Community amenities include a resort-style swimming pool, tennis courts, playground, dog park and fitness center. Andrea Kendrick of Berkadia represented the seller, Corbeil Equities LLC. PC Beau-Jardin LLC was the buyer.

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MidwestMissouriMultifamilySeniors Housing

Cushman & Wakefield Negotiates Sale of 80-Unit Seniors Housing Community in Webster Groves, Missouri

by Kristin Harlow

WEBSTER GROVES, MO. — Cushman & Wakefield has negotiated the sale of Provision Living at Webster Groves, an 80-unit assisted living and memory care community in suburban St. Louis. Built in 2012, the three-story community consists of 62 assisted living units and 18 memory care units. Amenities include a bowling alley, theater, physician’s space and bistro/café. Sunrise Senior Living purchased the property for an undisclosed price. Richard Swartz, Jay Wagner and Jim Dooley of Cushman & Wakefield represented the seller, a joint venture between Provision Living Senior Communities and WellTower.

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HospitalityMidwestMissouri

Midas Hospitality to Bring First Element by Westin Hotel to St. Louis

by Kristin Harlow

ST. LOUIS — The first Element by Westin hotel will open in St. Louis in 2019. Midas Forest Park LLC, a subsidiary of Midas Hospitality, recently bought the current home of Habitat for Humanity Saint Louis located at 3763 Forest Park Ave. for $2.4 million. The 1.5-acre property will serve as the site for the $25 million hotel, which will consist of eight stories and 119,000 square feet. The eco-conscious hotel will be constructed with an efficient use of space and sustainability in mind, and include 153 extended-stay rooms, 10,000 square feet of retail space and a rooftop lounge. Amenities will include a fitness center, saline pool and bike program. Midas Hospitality will manage the hotel, while sister company MC Hotel Construction will serve as the general contractor. Gray Design is the architecture firm. Carrolton Bank provided acquisition financing. Midas will lease the non-profit organization space for up to one year while Habitat for Humanity relocates.

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