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Berkadia Negotiates MF Property Sale in St. Louis
Berkadia 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 St. Louis led the transaction on behalf of the seller, St. Louis-based Regency Realty Co, LLC.
Majestic Stove Lofts sold to a California-based buyer on July 17. The property was 96 percent occupied at the time of the sale. “The sale of Majestic Stove Lofts represents continued strength in the St. Louis downtown multifamily market,” said Aston. “Our team has led investment apartment sales transactions in downtown for nearly 40 years with more than 60 transactions totaling over $3 billion dollars.”
Located at 2017 Washington Avenue, the property affords convenient access to Highway 44 and 64. Majestic Stove Lofts was built in 2006 and is situated in the historic Downtown West Business District of downtown St. Louis.
