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Chicago & Midwest  + Midwest  + Apartments  |  December 12, 2024
Jasmine Kilman
By: Jasmine Kilman

Berkadia Negotiates Sale of 444-Unit MF in St. Louis

Berkadia has completed the sale of Oak Forest Apartments, a 444-unit garden-style multifamily property in St. Louis, Missouri.

Managing Directors Andrea Kendrick and Ken Aston and Senior Director Bobby Mills of Berkadia St. Louis led the transaction on behalf of the undisclosed seller. Oak Forest sold for an undisclosed price to a Missouri-based investor. The property was 90% occupied at the time of the sale.

“Oak Forest is a generational asset, originally owned by the developer, making it ideal for a sale and value add opportunity,” said Kendrick. “St. Louis rent growth is projected to surpass 5% in 2025, exceeding the national average and underscoring the strength of the St. Louis multifamily market.”

Located at 10900 Oak Forest Parkway Dr, the property affords convenient access to Highway 67, Highway 340 and I-270. Oak Forest was built in two phases in 1983 and 1986 and features one and two bedrooms.

Read More News Stories About: Berkadia
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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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