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Chesterfield Multifamily Trades to Bi-State Partnership
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Berkadia has arranged the sale and financing of Schoettler Village Apartments, a 300-unit garden-style multifamily property in the St. Louis suburb of Chesterfield, MO. Deal terms were not disclosed.
Andrea Kendrick and Ken Aston of Berkadia’s St. Louis office completed the sale on behalf of the seller, Missouri-based Maxus Properties, and the buyer, a partnership between Iowa-based BH Equities and California-based L5.
“The sale of Schoettler Village was an excellent opportunity for BH Equities/L5 to expand their holdings in the West County-Chesterfield submarket and add value to the existing property with planned unit renovations,” said Kendrick. “Chesterfield is a high barrier to entry market, having no new apartment deliveries in the last 31 years except for one currently scheduled to open in September.”
Laura Cathlina of Berkadia’s Chicago office utilized Berkadia’s balance sheet to secure the acquisition financing for BH Equities/L5.
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- ◦Sale/Acquisition
