Total value of property hits $50 million
St. Louis, Mo. – Clayton based commercial real estate investment firm Sangita Capital Partners announced its recent acquisition of two properties in the St. Louis area today. Sangita Capital Partners was founded by Anthony F. Sansone, Jr. and his son, Michael J. Sansone in 2012.
Sangita purchased Corporate Hill, a 300,000 square-foot Class A office campus in Des Peres in October and Maryland Place, a 100,000 square-foot Class A boutique office building in Clayton in December.
These two acquisitions bring the total value of properties acquired by Sangita to approximately $50 million in the 4th quarter of 2014.
“We have several deals under contract or in the letter of intent stage for the first quarter of 2015,” Sangita Capital Partners co-founder Anthony F. Sansone, Jr. said.
“The commercial real estate sector in St. Louis is growing and becoming increasingly competitive,” Sangita Capital Partners’ Managing Director, Michael Sansone said. “The industry is constantly moving. You need credibility to attract private equity investors, identify opportunities, and act quickly.”
Since purchasing Corporate Hill, Sangita has expanded long-term commitments and increased occupancy. Sangita has made improvements such as updating IT software capabilities, reducing overhead for tenants, and implementing an energy savings initiative.
“We’re focused on attracting key investment partners, but more importantly, properties that fit within our opportunistic, geographically based model. We continue to search for price to value dislocations in order to limit overall portfolio risk and maximize investor returns, Michael Sansone said.”
Maryland Place was purchased as an “off-market” transaction through a direct relationship with the seller and is home to a distinct group of local and national companies. Occupancy has historically been very stable as there are no other Class A boutique office buildings with large floor plates and balconies in the Clayton market.
Corporate Hill is located at I-270 and Manchester in Des Peres and Maryland Place is located at Brentwood Boulevard and Maryland Avenue in Clayton…(read more)
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