Mills Properties Buys Apartment Complex in Receivership

Mills Properties Inc. has acquired West Pointe Apartments as majority owner in a $51 million deal that closed Oct. 25.

Mills bought the 1,047-unit complex in Maryland Heights out of receivership, according to Realty Exchange Commercial Group.

Sharon Hopmann with Realty Exchange Commercial Group represented the seller in the transaction.

Earlier this year, West Pointe Apartments, then owned by Creve Coeur-based Gannon International, was put into receivership when U.S. Bank, the lender on West Pointe, asked a St. Louis County Circuit Court judge to appoint a receiver.

Read more on St. Louis Business Journal.


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