SAN FRANCISCO, CA (June 2018) — Polaris Real Estate Partners (PREP), a principal investor and manager of multifamily properties, has purchased a 156 unit apartment project in St. Louis, MO. The acquisition is Polaris’ fifth multifamily investment within the past five months.
“Windsor Townhomes is located next to the St. Louis International Airport and the rapidly expanding industrial center adjacent,” noted Travis Pacoe, general partner of Polaris Real Estate Partners. “The property is also near two other multifamily properties we own in north St. Louis County. We expect that the synergies between the three properties will strengthen Windsor’s potential growth.” Polaris now owns over 1,000 units throughout the St. Louis and Kansas City greater metro areas and is actively pursuing other regional opportunities.
Windsor Townhomes is located on Amora Avenue in Berkeley, a suburb of St. Louis, with terrific visibility from drive-by traffic exiting from Interstate 170. Amora Avenue is highly trafficked, with nearly 24.5K cars passing by daily. There are 106K jobs and 7.8K businesses within a five mile radius of Windsor. Access to Interstates 170 and 270, two of St. Louis’ primary freeways, are within one mile of Windsor. Interstate 270 is St. Louis’ primary ring road. Some of St. Louis’ largest employers are within six miles of Windsor, including the Express Scripts world headquarters, Emerson Electric world headquarters, University of Missouri St. Louis (17K enrollment), Boeing Defense, Christian Hospital and the St. Louis International Airport.
Polaris Real Estate Partners specializes in multifamily investment in the mid-western and central United States, with its principals holding decades of direct real estate investment experience. Its principals currently have approximately 3,100 units currently under management. Over the past 20 years Polaris principals have acquired multifamily properties, warehouses, manufacturing facilities and retail properties as well as improved and unimproved land. Polaris Real Estate Partners is currently seeking projects 100 to 500 units in size in its targeted areas.