Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Timber Ridge Apartments, a 144-unit multifamily property located in St. Louis, Missouri.
“We’re thrilled to have successfully facilitated the sale of Timber Ridge Apartments, achieving exceptional results for both the buyer and seller,” said Ben Margalski, senior associate. “With 26 offers during the listing period and a remarkably low basis per unit, this transaction underscores the strength of the multifamily market in St. Louis and the value our platform brings to clients navigating competitive sales processes.”
Margalski and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s St. Louis and Indianapolis offices, marketed the property on behalf of the seller, CAF Bridge Borrower GS LLC. The property was purchased by LMNOP Properties Timber Ridge LLC.
Located at 1342 N. Garden Drive, Timber Ridge Apartments features 144 two-bedroom units across 131,290 rentable square feet. Built in 1962, the property is situated on 6.07 acres just off Interstate 270.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
