ST. LOUIS, July 31, 2018 – Cushman and Wakefield has arranged the $8.4 million sale of PW Shoe Loft Apartments, a loft-style multifamily apartment building with ground-level retail located at 3433 Locust Street. Bobby Mills, Mike Hanrahan, and Paul Hilton of Cushman & Wakefield’s St. Louis office represented the seller, PW Shoe Lofts, LP, in the transaction. Ridgehouse Capital acquired the property.
“Our Cushman & Wakefield team is pleased to have represented the seller of this luxury multifamily property,” Mills said. “Our team’s marketing efforts resulted in premium pricing for the St. Louis market, which is another example of investor’s strong appetite for multifamily properties in the St. Louis Metro.”
PW Shoe Lofts is a luxury, loft-style apartment building located in Midtown St. Louis. The asset is strategically positioned adjacent to St. Louis University, offering 34 high-end lofts for students and other residents searching for a live/work/play environment. In addition to being fully occupied with an extensive waiting list, the property has an unmatched location surrounded by countless amenities and top employment centers.
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.