Passco Companies, a real estate firm based in California that specializes in acquiring, developing, and managing properties, has recently acquired Cortona at Forest Park. This 278-unit apartment community is located in St. Louis, Missouri and was previously owned by Invesco Real Estate. The transaction was facilitated by JLL Capital Markets’ Kevin Girard, Mark Stern,and Zach Kaufman from their Chicago office. Financing for the acquisition was arranged by Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group on behalf of Passco Companies.
Cortona at Forest Park offers convenient access to the various cultural and recreational attractions of Forest Park and the Central West End area. With an impressive occupancy rate of 93%, this property boasts top-notch amenities for its residents to enjoy. Its location also benefits from being close to Cortex Innovation Community – a prominent innovation district that supports technology startups and other organizations.
Passco’s recent acquisition marks another milestone as they surpass $250 million assets under management (AUM) in the Midwest region with their investment in St.Louis.
