Gershman Commercial Real Estate and BurkHill Real Estate are paying more than $100 million for an 18-property real estate portfolio in Chesterfield, Mo., in what is said to be one of the largest-ever deals in the area.
The seller is Sachs Properties, one of the oldest real estate families in the region.
The mixture of properties includes 13 multi-tenant office buildings, four retail properties, and one industrial/warehouse facility, comprising 860,000 square feet, according to media sources. The portfolio is let to 160 tenants and has an occupancy rate of more than 90 percent.
Gershman and Sachs have been in talks about the potential sale for two years, according to St. Louis Post-Dispatch. Gershman enlisted BurkHill, a private real estate investment fund founded by Cassidy Turley’s former CEO Mark Burkhart, as an equity partner, in accordance with Sachs’ wishes to handle the transaction in a single closing.
The properties will be rebranded a
