Berkadia has announced the sale of Heatherbrook Gardens, located at 1100 Kingbolt Circle Drive in St. Louis, Missouri.
Built in 1986, the 105-unit property features one- and two-bedroom floor plans. Each unit features a fully equipped kitchen, washer and dryer, patio or balcony, and Internet and cable access. Unit features include newly updated amenities such as brushed-nickel hardware throughout, light fixtures and thermal windows. Community amenities include a courtyard, outdoor swimming pool with sundeck, spa, gazebo, picnic area and private pet park.
The community is located near Interstate 55 and Interstate 255, providing residents access to the entire St. Louis area.
The seller was HGA Partners, LP. The previous owner sought to monetize the value of their asset to redeploy the capital in new investments. The strategy of the buyer, Heatherbrook, LLC, was to add to their local portfolio.
Berkadia Managing Director, Ken Aston, and Director, Andrea Kendrick, of the St. Louis office negotiated the transaction.