CapStone Holdings Takes $40M Stake in City Foundry STL
CapStone Holdings, a business incubator and investment group, took a $40-million stake in Lawrence Group’s City Foundry STL, a food-retail-entertainment-office project set to open this summer in downtown St. Louis.
The holding company represents one of the largest single-entity investors in the $210-million first phase of City Foundry, an adaptive reuse of the former Federal Mogul Foundry complex. The foundry’s open-steel shell will house St. Louis’ first food hall, and anchor a complex including three entertainment venues and office space.
“City Foundry matches our investment criteria in terms of high-growth location, a vision brought to life by established developers and entrepreneurs, and with long-term projected positive returns,” said CapStone’s Keith J. Stone. “The significant buzz that is building among the business community, the excitement among residents and the national attention this and other projects are generating for St. Louis all confirm the factors leading to our partnership in City Foundry.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).