Creve Coeur, MO- Sandhurst Apartment Management (“SAM”) has announced the purchase of three multi-family apartment communities in St.Louis MSA. The 1,027-unit value-add portfolio includes:
Cove West Apartments: A 276-unit garden style community situated in 8 three story buildings with a clubhouse. Cove West underwent major interior and exterior renovations in 2012. Improvements included an upgrade to the resort-style swimming pool, a business center, a fitness center, outdoor grilling station and an upgrade to the walking trail around the community lake. The property was built in 1990.
Waterfront Crossing: Adjacent to Cove West, Waterfront Crossing features 591 garden style units situated in 32 three- or four-story buildings. Phase I of the property was built in 1973 (189 units) and Phase II was completed in 1980 (402 units). The property has seen major interior and amenity renovations which began in 2012. Upgrades were made to the two resort-style swimming pools, clubhouse, fitness center, walking trail and an outdoor grilling station was created.
Westchase Apartments: A 160-unit garden style community situated in 11 three-story buildings that underwent major interior and amenity renovations in 2012. Westchase offers a comprehensive amenity package that includes a resort style swimming pool, clubhouse, walking trail, outdoor fire pit and a grilling station. The property was built in 1986.
SAM is pleased to purchase three assets in Creve Coeur, adding to its existing portfolio of three properties in St. Louis MSA. The acquisition closed in September 2016. With easy access to local highways,strong retail and dining presence and the close proximity to major employers, the properties in the Creve Coeur Portfolio are situated in excellent locations. As Creve Coeur has continued to be a growing submarket of St. Louis, this acquisition proves to be consistent with our strategy of buying assets located in growing markets with strong demographics, excellent school systems and steady economic growth.
ABOUT SANDHURST APARTMENT MANAGEMENT (“SAM”)
Sandhurst Apartment Management is a forward-thinking, time tested group that provides a wholly integrated package of property management services, including on-site asset management, construction supervision and due diligence. Our success is rooted in our thoroughly vetted, value-add property investments that provide high-quality rental apartments in good school zones with attentive,hands-on-property management. Sandhurst owns and manages assets in 9 states totaling 10,000 units.