ST. LOUIS—Kanye Anderson Real Estate Advisors has purchased three student housing properties and a large parking garage here across from the main gate of St. Louis University for $68.4 million.
The assets, sold by the Gill family, include a 655-bed, 406-unit group of properties comprised of three adjacent apartment buildings and a 746-space parking garage. The properties are named the Coronado (originally a hotel), Moolah Place (originally a Masonic temple), Lindell Towers and the parking structure known as Moolah Garage. Amenities include a study lounge, pool and sundeck, fitness room, game room, and in-unit washer/dryers. There is also a bowling alley and movie theater located on site.
"The assets are a great addition and complement to Kayne Anderson’s robust portfolio of high-tier student housing properties,” said Al Rabil, managing partner and CEO of Kanye. “The quality and added value we’re able to offer students and ultimately their parents make this a compelling investment. We’re excited to expand our footprint to this nationally recognized growing university.”
These assets bring his company’s student housing portfolio to approximately 16,000 beds and 5,400 units. The firm’s portfolio also contains 444 conventional multifamily units and 15,065 self-storage units.