Berkadia recently closed the sale of Majestic Stove Lofts, a 120-unit, loft-style multifamily property in St. Louis, Missouri. Managing Directors Andrea Kendrick and Ken Aston and Senior Director Bobby Mills of Berkadia’s St. Louis office led the transaction on behalf of the seller – Regency Realty Co., LLC based in St. Louis.
The California-based buyer acquired Majestic Stove Lofts on July 17th with 96 percent occupancy at closing time; a testament to continued strength in downtown multifamily markets across Saint Louis according to Aston: “Our team has been leading investment apartment sales transactions for nearly 40 years now with more than 60 transactions totaling over $3 billion dollars.”
Majestic is located at 2017 Washington Avenue providing convenient access to Highway 44 and 64; it was built back 2006 featuring 120 units complete with loft style features throughout its premises..
This post serves as an example that despite current market conditions there are still opportunities for investors looking into investing into multi family properties within Saint Louise area or other similar markets around US .
