Soulard Apartment Complex Changes Hands
A 170-unit apartment complex in Soulard has a new owner.
LuxLiving, an entity affiliated with Sid Chakraverty, said Friday it has completed the sale of The Steelyard, a four-story complex at 2424 S. Ninth St. that was built last year, for $45.9 million.
The buyer is Hamilton Zanze, a San Francisco-based private real estate investment company that was represented by brokers Will Mathews, Tyler Hague, Bob Galamba, and Gregory Russell of Colliers International, according to the real estate firm.
The Steelyard is a blended complex of 128 new-construction units and 42 adaptive reuse apartments. It was built in 2019 by Big Sur Construction.
This is Hamilton Zanze’s second St. Louis-area acquisition. Last fall it partnered with an affiliate of Cantor Fitzgerald LP to acquire the 160-unit Tribeca Apartments, at 5510 Pershing in the DeBaliviere Place neighborhood, from LuxLiving.
The sale represents the first “significant transaction” funded with West Coast capital in Soulard, according to Colliers International.
Victor Alston of LuxLiving said in a statement that The Steelyard “was a very unique project, having the juxtaposition of old and new, but we actually finished the lease-up quicker than even our Central West End project (Tribeca) from last year.”
“And because of this success, we’ve doubled down on our commitment to the Soulard area and will soon be starting construction on a 330-unit apartment building a few blocks down the street,” Alston said.