Source: BRT Apartments / #Apartments #Multifamily
ST LOUIS, MO - BRT Apartments announced that it acquired, through joint ventures, three luxury multifamily properties with an aggregate of 355 units located in St. Louis, Missouri for $74.6 million, including $55.2 million of mortgage debt obtained in connection with the acquisitions.
The properties include: Vanguard Heights, a 174-unit mid-rise property in the desirable Creve Coeur neighborhood; The Tower at OPOP, a recently constructed 128 unit, 25-story modern luxury building located in the heart of downtown St. Louis; and The Lofts at OPOP, a 53 unit multifamily loft building located near The Tower at OPOP.
"Our three property acquisition in St. Louis provides BRT with a meaningful presence in an attractive market. These properties are among the highest quality in our portfolio and have a strong resident profile," stated Jeffrey A. Gould, President and Chief Executive Officer. "Our pipeline remains very active and we look forward to adding additional properties of this caliber throughout the year as we continue to scale our multifamily platform."
BRT is a real estate investment trust that either directly, or through joint ventures, owns and operates multi-family properties and other real estate assets.