St. Louis property manager Sansone Group expands to Kansas City
June 14, 2021

St. Louis property manager Sansone Group expands to Kansas City

https://www.bizjournals.com/st…

By Jacob Kirn – Managing Editor, St. Louis Business JournalJun 14, 2021, 2:55pm EDT

Sansone Group says it’s closed on deals to manage more than 600 residential units in the Kansas City area, its first foray into the market.

“It makes sense,” said Tim Sansone, principal. “It’s a big metropolitan area, and there are a lot of multifamily properties in Kansas City, which is a good market.” Beyond St. Louis, its base, the company already had a presence in other large Missouri markets such as Cape Girardeau and Springfield, plus southern Illinois, Sansone said.

Sansone will manage:

  • Three complexes owned by Robert Solomon III‘s Skyline LLC (Walnut Grove Apartments, 184 units; Woodbridge Apartments, 115 units; and Silver City Apartments, 160 units)
  • And another owned by Jared Remington‘s Code Capital (Park Highland Apartments, 184 units)

Sansone said the complexes involve either Section 8 vouchers or Low-Income Housing Tax Credits.

The firm added to its employee count during the pandemic, to more than 300. Sansone said it beefed up capabilities in accounting and compliance — important when dealing with government programs. Its multifamily division now has 210 employees, up from 175 last year, he said.

“We’re now at that level of infrastructure where it’s appropriate and makes sense to expand,” Sansone said, adding that it will set up an office in the Kansas City area this year. It now has 18 employees in Kansas City.

The company will also close on deals to add management of 250 units at five local properties in the next month, Sansone said.

The firm has greatly expanded its number of units managed, from about 1,800 five years ago, to 9,000 today, he said.

Sansone Group, based in Clayton, also ranks as one of the largest local commercial real estate firms by transaction volume.

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