HFF closes sale of 480-unit multi-housing community in St. Louis, Missouri
CHICAGO, IL – July 13, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Oxford Hills Apartments, a 480-unit multi-housing community in St. Louis, Missouri.
HFF marketed the property on behalf of the seller, a joint venture between Covenant Capital Group and Bell Partners Inc. Aragon Holdings, LLC purchased the asset for an undisclosed amount free and clear of existing debt.
Oxford Hills Apartments is situated on 26.32 acres at 10304 Oxford Hill Drive in St. Louis immediately adjacent to prestigious Creve Coeur and Lindbergh Boulevard/State Highway 67, which connects residents to all of the metropolitan area via Interstates 70, 270 and 64. Additionally, the property is approximately 7.5 miles south of Lambert-St. Louis International Airport. Oxford Hills Apartments has 36 residential buildings, which house one-, two- and three-bedroom homes averaging 953 square feet each. Community amenities include an outdoor swimming pool with sundeck, indoor swimming pool, fitness center, lighted tennis courts, clubhouse with cyber café, dog park, children’s playground and detached garages.
The HFF investment sales team representing the seller was led by managing directors Sean Fogarty and Marty O’Connell and associate director Wick Kirby.
About Covenant Capital Group
Covenant Capital Group is a real estate private equity firm specializing in value-added acquisition and redevelopment of apartment communities. The firm manages more than $470 million of equity invested in $1.2 billion of apartment assets with more than 15,000 units located predominantly throughout the Southeast and Mid-Atlantic regions of the United States.
About Bell Partners Inc.
Established in 1976, Bell Partners Inc. (“Bell Partners” or the “Company”) is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily communities throughout the United States. Bell Partners has over 60,000 units under management and over 20,000 apartments under renovation. The Company has more than 1,600 associates and 7 offices (including its headquarters in Greensboro, North Carolina) and offers an extensive and full-service operating platform containing expertise in acquisitions and dispositions, financing, property operations, construction, accounting, risk management, market research and all other related support functions. Bell Partners is led by a senior management team with an average of more than 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $10 billion of apartment transactions since 2002, including almost $1.5 billion of activity in 2015 alone. For more information, visit our website at www.bellpartners.com.
About Aragon Holdings, LLC
Aragon Holdings, LLC is a private real estate investment and fund management company headquartered in Los Angeles, California. Founded in 2008, the firm has since acquired over 10,000 apartment units in 10 major metropolitan cities within seven states across the U.S. Aragon’s team is comprised of real estate, fund management and financial professionals that collectively have more than 75 years of experience successfully acquiring, building, developing, financing and operating commercial and residential real estate.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Missouri licensed real estate broker.