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3949 LINDELL

  • SOUTH TOWER CITYPLACE
  • THE EASTPORT
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  • 3949 Lindell

Multifamily, Retail

3949 Lindell is a class “A”, mixed-use asset with 197 apartment units and 13,992 SF of ground-level retail space.

In addition, the asset included a Tax Increment Financing (“TIF”) Note with a $3.0mm face value. The asset was completed in early 2010 for a total development cost of $31.3mm and is located in the Central West End submarket of St. Louis, a gentrifying area due to the close proximity to medical centers, universities, and Forest Park.

  • Medical center (155 acre campus, 1,500 beds, 20,000 employees)
  • Universities (SLU & Washington U – 25,500 combined students)
  • Forest Park (1,300 acres of dynamic outdoor space )
  • OBJECTIVE
  • INVESTMENT DETAILS
  • Acquire a newly constructed, non-stabilized asset on an all-cash basis
  • Evaluate strategies with the borrower including pursuit of fee-simple interest and comprehensive loan restructuring
  • Fund tenant improvement and leasing commission dollars to fill the balance of the ground-level retail space
  • A qualified buyer for the disposition of the asset
Investment Type: Distressed Mixed Use Asset
Property Type: Multifamily – Retail
Status: 3949 Lindell has been sold to a Public REIT. Gulfstream still owns the TIF note and receives annual payments.
Acquisition: May 2010
Disposition: December 2011

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  • Location St. Louis, MO
  • RECENT NEWS

    • Ft. Worth Closing of a Land and Loan Venture
    • Austin Mezzanine Loan Closing Announcement
    • Cassidy Ridge Closing Announcement
    • Recent Investments

      • South Tower CityPlace
      • Tranquil Court
      • 3949 Lindell

    9301 N. Central Expressway, Tower 2, Suite 335, Dallas, TX 75231

    214.666.8526

    info@gulfstreamcap.com

    Copyright 2015 Gulfstream Capital Group LLC. All rights reserved.

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      • Ft. Worth Closing of a Land and Loan Venture04/27/2016
      • Austin Mezzanine Loan Closing Announcement05/05/2015
      • Cassidy Ridge Closing Announcement12/12/2014
      • Campus Suites Closing AnnouncementCampus Suites Apartments Closing Announcement04/01/2011
      • 3949 Lindell Campus Core Campus Suites CityPlace Closing Falcon Lake Apartments South Tower The Highlands