UPDATED: Passco Cos. buys apartment community in St. Louis
CORRECTION: A sales price of $250 million was reported on Dec. 6, which was incorrect. Passco surpassed $4 billion in assets under management, $250 million in the Midwest, with the acquisition of Cortona at Forest Park in St. Louis.
Passco Cos. has completed the acquisition of Cortona at Forest Park, a 278-unit, class A apartment community in St. Louis. The sales price was $250 million. The seller was Invesco Real Estate.
The property is at 93 percent occupancy. Located at 5800 Highlands Plaza Drive, Cortona at Forest Park is a 278-unit mid-rise apartment building completed in 2014. The property is comprised of one five-story residential building situated on