Berkadia Negotiates Sale of 444-Unit Multifamily Property in St. Louis, Missouri
ST. LOUIS, MO – December 6, 2024 – Berkadia announced today the sale of Oak Forest Apartments, a 444- unit, garden-style multifamily property in St Louis, Missouri. Managing Directors Andrea Kendrick and Ken Aston, and Senior Director Bobby Mills, of Berkadia St. Louis led the transaction on behalf of the undisclosed seller.
Oak Forest sold for an undisclosed price to a Missouri-based investor on November 21. The property was 90% occupied at the time of the sale.
“Oak Forest is a generational asset, originally owned by the developer, making it ideal for a sale and value add opportunity,” said Kendrick. “Located in the Creve Coeur/Maryland Heights submarket, the property benefits from high barriers to entry and a diverse employment base. St. Louis rent growth is projected to surpass 5% in 2025, exceeding the national average and underscoring the strength of the St. Louis multifamily market.”
Located at 10900 Oak Forest Parkway Dr, the property affords convenient access to Highway 67, Highway 340 and I-270. Oak Forest was built in two phases in 1983 and 1986 and features 444-units with one and two bedrooms.
Berkadia Negotiates Sale of 444-Unit MF in St. Louis | Connect CRE