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Creve Coeur Portfolio - St. Louis, MI

The Creve Coeur Portfolio is a 3 property, 1,027-unit, apartment portfolio purchased by HPP in partnership with Somerset Partners (Sandhurst Apartment Management) in September 2016 located in the upscale suburb of Creve Coeur, Missouri. All three properties are located just off of Olive Boulevard (the main commercial thoroughfare in the submarket and near the Interstate 270 interchange, creating excellent accessibility. All three properties have undergone major interior and amenity renovations throughout the years prior to Somerset’s ownership, and Somerset will continue to make further enhancements during its hold. The city of Creve Coeur is recognized as a key node for technology and life sciences in the St. Louis region due to its concentration of life and bio-science, technology and healthcare facilities, and businesses. Creve Coeur is home to Monsanto Corporation’s worldwide headquarters, the Nidus Center for Scientific Enterprise, and the Donald Danforth Plant Science Center. Nine of the St. Louis regions 25 largest information technology firms are located in Creve Coeur. Some of Creve Coeur’s IT corporate residents include Microsoft, Envision, Computer Science International, Reuters, Daugherty Business Solutions, Nextel and HP. Monsanto, St. John’s Mercy Medical Center and Thomas Reuters are among Creve Coeur’s five largest employers. The three individual assets are as follows:

  • Cove West: a 276-unit garden style community situated in 8 three story buildings and one-story clubhouse built in 1990,
  • Waterfront Crossing: a 591-unit garden style community situated in 32 three or four-story garden buildings built in 1973 (Phase 1 – 189 units) and 1980 (Phase II- 402 units)
  • Westchase: a 160-unit garden style community situated in 11 three-story garden buildings built in 1986

Location: St. Louis, MI
Date acquired: September 2016