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Sansone Group adds nearly 500 apartments to its management portfolio

Posted on September 13, 2018

Sansone Group has added about 490 apartments in the city of St. Louis to its residential management portfolio, which now totals more than 6,000 units. 

The new multifamily properties added to the developer’s management portfolio include the The Saum and Hutcheson Arms apartment buildings in the Shaw neighborhood; The Embassy, The Chesterfield and Waterman Clara in the Central West End; and the Delmar Loop Apartments. 

Sansone Group Principal Tim Sansone said the real estate company has added 1,500 units to its management portfolio in the past three months, bringing its portfolio up to 6,500 units. 

Tim Sansone said the region’s multifamily market, which has been strong in recent years, is one of the reasons the company continues to grow its portfolio. The region recorded $715 million in transactions in 2017 and $791 million in transactions in 2016. 

The St. Louis multifamily segment has an average rent of $911 and occupancy rate of 93.1, according to a second-quarter report from Berkadia. Average rents in south St. Louis and the Central West End average $762 and $1,220, respectively, according to Cushman & Wakefield research.

Nathan Rubbelke
Reporter
St. Louis Business Journal

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