Cushman & Wakefield Arranges Sale for Priderock Capital Partners
ST. LOUIS, Missouri, June 6, 2018 – Cushman & Wakefield has arranged the sale of Sun Valley Lake, a 680-unit apartment community located in St. Charles, Missouri. Mike Kemether of Cushman & Wakefield’s Atlanta office, along with Mike Hanrahan and Bobby Mills of Cushman & Wakefield’s St. Louis office, represented the seller, Priderock Capital Partners, in the transaction. Ascent Residential acquired the property.
“Our Cushman & Wakefield team is pleased to have represented the seller, Priderock Capital Partners, in the sale of this iconic multifamily property,” Mills said. “Our collaborative marketing efforts with our Atlanta team successfully attracted a first-time buyer to the Midwest, which is another testament to the influx of new capital entering the St. Louis market as a result of higher yields that primary markets cannot offer.”
Built in 1986, Sun Valley Lake is a premier Class A garden-style apartment community located along Interstate 70. The property provides excellent connectivity to major employers and is in close proximity to an abundance of retail as well as Lindenwood University, the fastest growing university in the Midwest.
Sun Valley Lake is situated in a park-like setting unique to the St. Louis market that includes a 7.5-acre recreational lake with two islands, providing many units with outstanding lake views. Additionally, Sun Valley Lake boasts one indoor and two outdoor swimming pools, a state-of-the-art fitness center, covered parking and spaciously designed floor plans.
Cushman & Wakefield’s Multifamily Advisory Group is one of the most active brokerage firms in the U.S. The firm delivers investment advice, transaction execution, and market information to owners and investors engaged in buying, selling, financing and developing multifamily real estate. Since 2012, the group has closed $40 billion in sales volume (a 25 percent year-over-year increase) through 2,050 deals and more than 345,000 units. For more information about Cushman & Wakefield’s Multifamily Advisory Group, visit https://multifamily.cushwake.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.