Prelude Capital announces real estate joint venture
Real Estate - AUGUST 2, 2023

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Prelude Capital announces real estate joint venture

by Released

Prelude Capital Management has formed a real estate joint venture with a New York Stock Exchange–listed financial services conglomerate.

The joint venture acquired a 40-unit multifamily property, De Tonty Street Apartments, in the historic Shaw neighborhood of St. Louis, where Prelude owns and operates more than 100 other units.

“After spending years developing our track record of investing in multifamily housing, we are committed to building new partnerships with quality assets sourced through our proprietary networks in Midwest tertiary markets. These areas benefit from the same positive tailwinds as the Sun Belt, but without the comparable compression of capitalization rates,” said Gavin Saitowitz, CEO of Prelude.

Prelude is a multibillion-dollar global asset manager with offices in the United States, Europe and Asia.

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