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Record $180M MF Deal Completed in St. Louis

Berkadia completed the sale and financing of a six-property portfolio located in St. Louis County, MO. The 2,000-unit, garden-style portfolio sold for nearly $180 million, marking it the largest multifamily deal in the history of St. Louis.

Berkadia’s Andrea Kendrick and Ken Aston completed the sale on behalf of New Jersey-based GEM Property Management. Berkadia’s Peter Benedetto arranged the financing on behalf of the buyer, Colorado-based Monarch Investment and Management Group.

“The portfolio included six outstanding apartment communities with long-term ownership,” said Kendrick. “In recent years, the seller invested more than $50 million into capital improvements.”

The Midwest Metropolitan multifamily portfolio includes:
– Canyon Creek, St. Louis (320 units)
– Forest Woods, Valley Park (260 units)
– Southwoods, St. Louis (256 units, pictured above)
– Heritage Estates, St. Louis (388 units)
– Villages at General Grant, St. Louis (550 units)
– Village Royale, St. Louis (196 units)

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Connect With Berkadia’s Kendrick

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition