ST.LOUIS—Gateway cities are not the only ones that have seen interestin their older buildings soar. IBC Investors,LLC just sold 1501Washington Ave., a 10-story, 140,000 square-foot building in theWashington Ave. Loft District of downtown St. Louis, and the newowner FeEquus plans to convertthe 105-year-old structure into a 140-room boutique hotel.This will not be a departure for the Milwaukee-based developmentfirm, which transformeda century-old warehouse building in its hometown intothe Iron Horse, a boutique hotel that has wonnumerous awards.
JohnWarren, a vicepresident in the St. Louis office of JLL,represented the IBC Investors in the transaction. This is thesecond historic building Warren has sold in the district in thepast month. Financial terms were not disclosed.AriesCapital is theinvestment partner working with Fe Equus on thisdevelopment.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
