ST. LOUIS, Mo. – March 14, 2019 – Berkadia announced today the sale and financing of Chez Paree Apartments, a garden-style multifamily property in the St. Louis suburb of Hazelwood, Missouri. Managing Directors Alex Blagojevich, Michael Sullivan, Ken Aston and Andrea Kendrick completed the sale on behalf of the buyer and seller. The seller was Chez Paree Partners LLP, and the buyer was Fireside Financial. The deal closed on February 28.
“Chez Paree is a well-maintained asset with strong occupancy and long-term ownership,” said Kendrick. “This transaction is an excellent opportunity for the buyer to gain economies of scale in the St. Louis MSA and implement a value-add strategy with interior unit renovations.”
Senior Managing Director Kevin Kozminske and Senior Director Mike Duggan secured the Fannie Mae acquisition financing for Fireside Financial.
“Berkadia remains the most active Fannie Mae DUS Lender in the St. Louis area,” said Duggan. “We welcomed the chance to lend again to such an experienced owner as Fireside.”
The property features one- and two-bedroom floor plans with wood flooring, dishwashers, storage units and balconies. Residents also have access to on-site amenities, including a large swimming pool, a basketball court, a fitness center and on-site laundry. Chez Paree is located at 240 Chez Vant Court and affords convenient access to Interstate Route 170 and downtown St. Louis, which is less than 20 miles away.