3949 Lindell Closing Announcement
3949 LINDELL MIXED USE PROPERTY. View
Gulfstream Capital Group is pleased to announce the closing of 3949 Lindell, a mixed-use property located in St. Louis, Missouri.
ASSET HISTORY
The subject asset was completed in mid-2009 for an all-in cost of $32MM. Property suffered issues similar to those at Falcon Lake (previous transaction) and was acquired at 60% physical occupancy (Residential & Retail). Gulfstream acquired both the Senior & Mezzanine Notes as well as a $3MM assumable TIF (Tax Increment Financing) Note.
- All-Cash Purchase: No financing contingency, 10 day close
- Assumable TIF: Property was transferred with a $3MM TIF to be issued by the City of St. Louis
- Strong Discount to Replacement Cost
- Quality Location: Asset is positioned in a desirable part of town, directly adjacent to two Universities and within close proximity to a major park and the Medical District
| Location: | St. Louis, MO |
| Type: | Mixed-Use (Multifamily & Retail) |
| Units: | 197 Residential Units + Retail |
| Square Feet: | 190,192 Total NRSF |
| Structure: | All-Cash Senior and Mezzanine Note |
| Closing: | 05/06/10 – 10 Day Close |
ABOUT
Gulfstream Capital Group, LLC is a Real Estate Investment Manager located in Dallas, Texas focused on the nationwide acquisition of Multifamily and Mixed-Use Real Estate, including Conventional, Condominiums, Senior and Student Housing.
Under no circumstances should any information presented on this website be construed as an offer to sell, or solicitation of an offer to purchase any securities or other investments. This website does not contain the information that an investor should consider or evaluate to make a potential investment. Offering materials relating to investments in entities managed by Gulfstream Capital Group are not available to the general public.×
