Northmarq arranges sale of 428-unit apartment complex in St. Louis, MO
ST. LOUIS (Aug. 9, 2024) — Northmarq’s Midwest Multifamily Investment Sales team of Dominic Martinez, Parker Stewart and Alex Malzone successfully brokered the sale of The District apartments in a highly sought-after St. Louis submarket. Built in 1953, the garden-style multifamily community features 428 units and is located at 633 N. McKnight Road.
Northmarq represented the seller, Freeman Webb. The buyer was a Colorado-based private investor.
“The District’s scale and irreplaceable location drew interest from investors across the country. Despite the age of the property, the asset is extremely well maintained with updated finishes and modern amenities, and ultimately attracted a substantial number of buyers in today’s market,” said Martinez.
The District is ideally situated on 28 acres directly off Interstate 170. The multifamily property boasts an excellent location in one of St. Louis’ most sought-after and highly affluent submarkets, University City, with easy access to the city’s major employers and top destinations. Residents enjoy high-end restaurants, boutiques, Class A office space and multiple Fortune 500 companies less than 5 minutes away from the property in addition to a variety of community amenities.
Apartment amenities include: Granite countertops, wood floors, large closets, in-unit washer/dryer, central HVAC and garages for rent. Select units include open concept living areas and stainless-steel appliances. Community amenities include: Swimming pool with sundeck, fitness center and yoga room, two dog parks with agility courses, children’s playground, clubhouse with kitchen, resident lounge, BBQ/picnic areas, access to Centennial Greenway Trail and 24/7 on-site maintenance.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
