- Demonstrated Value-Add in the Submarket
- Quiet Neighborhood Atmosphere
- Meticulously Maintained – Extremely Clean Asset
- Conservative In-Place Owner-Operator
- Offered Free and Clear of Existing Debt
DEMONSTRATED VALUE-ADD UPSIDE AT COMPS IN THE SUBMARKET
Located 3.7 miles from Waterford Square is Greenway Chase Apartments; Greenway Chase Apartments has successfully executed on property and unit upgrades. By completing unit upgrades with similar finishes, enhancing the exterior, and further bolstering the amenity package, Waterford Square will be able to achieve rents alongside the rents of Greenway Chase Apartments, further bolstering returns for new ownership.
QUIET NEIGHBORHOOD ATMOSPHERE CLOSE TO HIGH-QUALITY SHOPPING
Surrounded by neighborhoods and green space, Waterford Square offers a very different renter experience. The asset is located in a quiet, residential area in Florissant, at the intersection of Waterford Drive and St. Catherine Street. It is directly adjacent to Florissant Valley Park, a 30-acre park with a playground, 1/4 mile track, and a soccer field. The park is also home to the James T. Eagan Community Center, which has a gym, an indoor pool, fitness center, ice rink, and game room. The community center is home to the Florissant Civic Center Theatre that hosts several theatre-based companies and numerous productions throughout the year.
Shopping near Waterford Square includes the Shoppes at Cross Keys two miles to the north, a 325,000 square foot center anchored by Schnuck’s Supermarket and Home Depot. Grandview Plaza is a 296,000 square foot shopping center only two miles away and is also anchored by Schnuck’s.
METICULOUSLY MAINTAINED | EXTREMELY CLEAN ASSET
Waterford Square offers a strong foundation for a new investor to reposition the property. The asset has seen substantial capital improvements to the exterior, allowing a new investor to focus on interior unit renovations and boosting topline revenue.
