Metro East Firm Made Its First Acquisition Across the River
From St. Louis Business Journal: Gateway Multifamily Group, which owns more than 650 apartment units in the Metro East, has made its first deal on the Missouri side of the region.
The company closed on its acquisition of 1401 Pine St., which was bank owned, on Sept. 26. Town and Country Bank financed the acquisition, said founder and CEO Raj Tut.
The purchase price was $2.8 million, according to real estate data firm Reonomy.
Prior to this acquisition, all of Gateway’s assets were in the Metro East. Tut said the deal was a “natural progression” for his company to keep growing — it’s one of the fastest growing privately held companies in the St. Louis region, according to Business Journal research.
The Downtown West building is in a prime spot, located catty-corner from Soldiers Memorial and situated two blocks north of Enterprise Center and within walking distance of Union Station.
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