Fueled by several big-ticket building sales, the St. Louis real estate market enjoyed one of its strongest six-month stretches of the last decade during the first half of this year.
The region’s sales volume across all market segments totaled nearly $1.5 billion for the first half of the year, according to preliminary data from Real Capital Analytics. That represents the No. 2 first-half total for the market since the Great Recession, trailing only 2015.
Several large deals for apartment complexes helped the first-half total. Those included the $80 million sale of the Orion apartments to Brass Enterprises, a Toronto-based real estate investment company, and the $64 million sale of Sun Valley Lake Apartments in St. Charles to B&M Management, an Alabama-based firm.
Also driving the real estate market was the rapid pace of deals in the Cortex Innovation District, where tenants including Square, Aon, Multiply and Aclaris have either expanded or inked new leases.
Read more: St. Louis Post-Dispatch