LOUIS and PHILADELPHIA – July 27, 2022 – Berkadia announced today the sale and acquisition financing of The Oliver, a newly built 151-unit multifamily community located in an opportunity zone in St. Louis, Missouri. Director Bobby Mills and Managing Directors Andrea Kendrick and Ken Aston of Berkadia St. Louis completed the sale on behalf of the sellers, Missouri-based Larson Capital Management and Ridgehouse Companies. The deal closed on June 29.
“The sale and financing of The Oliver was a true team effort,” said Mills. “Working in collaboration with Berkadia’s debt team allowed us to quickly sell and finance this opportunity zone project prior to full certificate of occupancy, at zero percent occupancy, in 29 days. Ridgehouse and Larson developed a top-tier, highly successful community which is a strong testament to the much-needed housing density in the rapidly growing Olivette corridor. Fortbridge is certainly positioned for long-term success.”
Located in the burgeoning Olive Boulevard/I-170 corridor, The Oliver has quick access to shopping, restaurants and recreation, and is located in the Ladue School District, which is ranked nationally and is the highest ranked school district in Missouri. The Oliver is minutes away from Clayton, Missouri, and several major St. Louis employers, including Boeing, Enterprise, Bayer, Washington University, Express Scripts and the agtech district 39 North. The property features studio, one- and two-bedroom floor plans and are complemented by a top-tier community amenity package. The Oliver sets the new standard of luxury living in the growing Olive & I-170 corridor.