ST. LOUIS — A 229-unit multifamily development in Clayton has sold to an out-of-town buyer in one of the region's largest apartment transactions in 2020.
The Barton apartments, at 8500 Maryland Ave., traded for more than $70 million, real estate sources told the Business Journal.
CBRE Vice Chairman Matt Bukhshtaber represented the seller, Chicago-based Covington Realty Partners. Bukhshtaber could not be reached for comment, though a CBRE spokesperson declined to comment on the deal.
Carter-Haston, a Nashville-based private fund management and property management company, acquired the apartments through its Barton Apartments SPE LCC, public records show. Company officials did not respond to a request for comment. But David Garfinkel, senior vice president and managing director of NorthMarq’s St. Louis office, arranged a $50.57 million loan for the acquisition on a 10-year term with its in-house Fannie Mae team, according to a release. A NorthMarq spokeswoman declined to provide further details of the deal.
Carter-Haston employs over 300 people and owns properties throughout the South and Southeast. The Barton is the firm's only St. Louis asset, according to its website.
The Barton is among the largest multifamily deals of the year along with the January sale of The Villages of Bogey Hills in St. Charles for roughly $79.4 million, according to real estate data firm Reonomy.
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