ST. LOUIS-A joint venture of Chicago-based Concert Realty Partners and locally based Mills Corp. is selling off a portion of a multifamily portfolio here where it has invested about $90 million since 2004. The venture hired Sheldon Good & Co., based in New York City, to auction 10 properties, which includes apartment buildings and condos.

The properties are located in the DeBaliviere Place neighborhood, which is bounded by Delmar, Union and Lindell boulevards, and Debaliviere Avenue. The five apartment buildings range from 62% to 92% occupied with about 256 units. Eighteen condominium units are offered at the Marlborough at Metropolis and Bolton at Metropolis buildings. The portfolio also includes a 2,900-square-foot commercial building, and two properties with swimming pools.

Mark Troen, COO of Sheldon Good, said Concert, the independent successor entity to ING Realty Partners, wants to exit this investment. “They’ve done the job and redeveloped the area, and it’s time to move on, they fell,” Troen tells GlobeSt.com. “The buildings have good occupancy and produce income.” He says there was no issue of distress with these buildings.

The minimum bid on all the properties is about $7.4 million, when added all together. The auction will be held April 28.