Marcus & Millichap Brokers Sale of 490-Unit Multifamily in St. Louis
Marcus & Millichap announced the sale of Trinity Park Apartments, a 490-unit multifamily property in North St. Louis.
The property was sold through an online live bid auction sale conducted by Marcus & Millichap. “Trinity Park Apartments offered investors a significant value-add opportunity,” said Ryan D. Engle, senior managing director investments. “The property’s below-market occupancy presented a substantial lease-up opportunity for the new ownership.” Engle, Andrean Angelov and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s Chicago Oak Brook and Indianapolis offices, had the exclusive listing to market the property on behalf of the seller.
Engle and Angelov, along with Mike Cusick in the firm’s St. Louis office, procured the buyer. The agents collaborated with Adam Sklaver and Philip Kates of Marcus & Millichap’s auction services to market the asset and assist in securing the buyer. Trinity Park Apartments, located at 11065 Dunklin Drive, spans 24.08 acres and consists of 34 residential buildings including 285 one-bedroom and 205 two-bedroom residences.
If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.
