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$7.5M Sale of St. Louis MF Closed by Berkadia
Berkadia has closed the sale of Lynn Town Apartments, a 144-unit garden-style multifamily property located in St. Louis, Missouri. Managing Directors Andrea Kendrick and Ken Aston, and Senior Director Bobby Mills led the sale on behalf of the seller.
“Lynn Town provided the purchaser an opportunity to acquire a high-performing and very well-maintained community with the opportunity to increase rents,” said Kendrick. Located at 9675 Muriel Ave, the property affords convenient access to HWY 70. Lynn Town was built in 1963 and features 144 units with a 100 percent townhome unit mix. The property was owned by the original developer with 60 years of consecutive ownership.
Lynn Town is located in the airport submarket, which is centrally located to major employment, including Boeing’s defense headquarters. Boeing recently announced a $1.8 billion expansion in the area that will bring 500 new jobs to St. Louis.
