Berkadia closed the sale of Crossing at Northpointe, a 334-unit garden-style multifamily property in St. Louis, Missouri.

Managing Directors Andrea Kendrick and Ken Aston, and Senior Director Bobby Mills of Berkadia St. Louis led the transaction on behalf of the seller, Utah-based Sundance Bay. Crossing at Northpointe sold to a New Jersey-based buyer, and the property was 94 percent occupied at the time of the sale.

“Sundance Bay invested more than $9 million improving the property during their ownership which offered the buyer a proven value-add opportunity and additional upside with continued unit renovations,” said Kendrick.

Located at 3144 Sunswept Park Drive, the property affords convenient access to nearby Interstates 270 and 170 in addition to the Lindbergh Boulevard retail corridor. Crossing at Northpointe was built in 1972, renovated in 2021, and is within walking distance to major retail and grocery stores, including Starbucks, Target, Home Depot, Chic-fil-A, and Walgreens.

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.  

Join the leaders and dealmakers when they explore the most important topics and trends at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register to attend to network with the best in the industry and sit in on discussions you won’t hear anywhere else. Early Bird Registration Ends April 19.