Kroenke Buys Partner’s Stake in Development Company

Photo courtesy of Creative Commons

After a 21-year run, Michael Staenberg, president of Cheserfield-based THF Realty, said he had agreed to sell his stake to his partner, Stan Kroenke, a billionaire from Columbia who owns the St. Louis Rams and three other professional sports teams.

THF, the $2 billion company that develops retail centers nationwide, is currently helping to redevelop the Union Station facility in St. Louis.

“Stan and I put agreements in place 21 years ago to acknowledge that our individual circumstances and personal goals were subject to change and that it made good business sense to establish a mechanism to allow us to separate,” Staenberg said in a statement Wednesday.

Read more on St. Louis Post-Dispatch.

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