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ST. LOUIS-The Chicago office of Holliday Fenoglio Fowler is quietly marketing a 284-unit apartment complex here in Creve Coeur, MO. The Charter Place Apartments has a purchase price of $24 million.

The apartment portfolio consists of 51 two-story buildings as well as a clubhouse. The property includes one- two- and three-bedroom units. A basic two bedroom, one bath apartment total 935 square feet. While the three-bedroom, 2.5-bath units are 2.270 square feet.

The apartment community was built in 1970 and renovated between 1999 and 2004.

HFF executives believe the property is uniquely positioned in a market that has only seen the addition of 228 apartment units in the last 12 months, with only 433 units coming to market in the last three years.

“Charter Place’s submarket has seen almost no new supply enter the market in recent years, with the 2006 delivery of the 152-unit Kings Landing in Creve Coeur being the last noteworthy delivery in the submarket,” HFF executives say in the marketing materials. “Currently there are no new units under construction or planned in Charter Place’s submarket. The vacancy rate in St. Louis submarket is currently 8.8% and is expected to begin decreasing in 2010.”

Amenities include GE appliances, a clubhouse, pool, 24-hour fitness center, basketball and tennis courts, outdoor jogging trails and covered parking.

Matthew Lawton, executive managing director, Sean Fogarty, managing director, Marty O’Connell, managing director and Jason Nettles, managing director, are jointly marketing the property.

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