A St. Louis-based private partnership has purchased an apartment property in Florissant, Ms., a northern suburb of St. Louis.

The property, Aspen Woods Apartments, includes 452 units and will be owned and operated by an affiliate of BPG Properties’ multifamily operating arm, Madison Apartment Group, LP. The purchase was made on behalf of BPG Investment Partnership VII, LP, a private equity fund with total equity commitments of $550 million.

The value of the transaction was not disclosed.

The complex consists of 37 two-story buildings, and the units include a mixture of one-bedrooms, two-bedrooms, three-bedrooms and townhomes. The average apartment size is 1,101 square feet.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Refer friends to Select and get $200 in credit.Register Here×
Connect Now is less than one week away. Prices go up May 30.Reserve your seat today.×