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2/13/2013 - Hendricks-Berkadia Brokers Sale of St. Louis Apartment Complex
ST. LOUIS - Hendricks-Berkadia brokered the sale of the Villages of Wyncrest, an 840-unit apartment complex located at 8640 Brookshire Lane.

The seller was Wyncrest Holdings Inc. of Vancouver, British Columbia, Canada. The buyer was Wyncrest St. Louis L.P. of Nashville, TN.

The transaction was negotiated by Andrea Kendrick and Ken Aston of the St. Louis office of Hendricks-Berkadia. The property was sold for an undisclosed price and the deal closed in late December.

Built in 1952, the community is located on 55 acres of land and offers one-, two- and three-bedroom floor plans.

In 2012, vacancy declined 100 basis points to 5.5% metrowide, according to Hendricks-Berkadia, while the average asking rent increased 2.3% during the year to $757 per month.

Hendricks-Berkadia was formerly known as Hendricks & Partners. In addition to the multifamily advisory services that Hendricks & Partners has offered for more than 17 years, clients will also be able to enjoy direct access to a full menu of capital market products. []

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