The new owners of Schoettler Village plan to embark on an $8.4million capital improvement program over the next threeyears.
ST. LOUIS—Multifamily investors typically look for propertieslocated in rising office markets, and the suburbs of St. Louis definitely qualify.L5 Investments and its partner BHEquities are set to pour millions into the renovation oftheir newly-acquired Schoettler Village Apartments, a 300-unitapartment community in Chesterfield, MO, a top submarket in theregion. The owners plan to embark on an $8.4 million capitalimprovement program over the next three years that will satisfy thedemand of local renters seeking quality apartments.
Built in 1978 and located at 15480 Elk Ridge Ln., the propertysits on just over 26 acres and includes 46, three-story buildingswith a unit mix of 255 two-bedroom units and 45 three-bedroomunits. The community features a business center, resort-style pool,clubhouse, fitness center, fenced dog park, playground, and grilland picnic areas.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
