Offering Summary
Jones Lang LaSalle (“JLL”) is pleased to present Cortona at Forest Park (“Cortona”), a 278-home mid-rise apartment building featuring a premier location next to St. Louis’ Forest Park, as well as nearby downtown Clayton and Central West End. Cortona offers an unbeatable live/work/play location that is a short commute to all Forest Park has to offer, as well as top employers, entertainment, retail, restaurants, and downtown St. Louis.
Investment Highlights
Premier Location
- Adjacent to beautiful Forest Park
- Abundance of entertainment, restaurant and retail options surrounding Forest Park, including Clayton and Central West End
- Proximate to Barnes Jewish Hospital, Wash U, Saint Louis University, Cortex Innovation District, and other top employers, education and healthcare
Value-Add Story
- Competitive apartment finishes primed for interior value-add
- Verified renovation to modernize homes and achieve $300 premiums
- Opportunity to reimagine some amenity spaces
Incredible Tax Benefits
- Desirable tax abatement in-place through 2038
- Owner only pays 50% of tax bill with no reassessment
Best-In-Class Development with Top Amenities
- Part of walkable master-planned development inclusive of restaurants, fitness, healthcare, hospitality, office, and private park
- Unbeatable community amenities including resort-style pool
Superb Property Performance
- Strong Occupancy (99%)
- 60% Retention
Property Summary
Street Address |
5800 Highlands Plaza Drive |
City, State |
Saint Louis, MO, 63110 |
County |
St. Louis City |
Number of Homes | 278 |
Rentable Square Feet | 222,908 SF |
Average Home Size | 802 SF |
Occupancy | 95% |
Year Built |
2014 |
Parking |
102 Garage Spaces 229 Surface Spaces 331 Total Parking Spots |
Parking Ratio | 1.9x |
Financing | Available All Cash |
Tours
Please contact JLL to set up a tour of the properties. The owner and JLL respectfully request that interested parties refrain from contacting any on-site personnel or residents. Tours must be scheduled in advance by contacting Kevin Girard (kevin.girard@jll.com) or Zach Kaufman (zach.kaufman@jll.com) .
Investment Contacts
Zach Kaufman
Director
847.830.8883
zach.kaufman@jll.com
Financing Contact
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