Irvine, CA-based real estate investment firm Sperry Van Ness represented both sides in the transaction. Jeff Mucha, a senior advisor at the firm, brokered the deal.

"In order achieve the highest value for the seller, we conducted a comprehensive marketing program, targeting key brokers and investor across the country, securing incredible interest on the property," said Mucha. "The buyer was looking for high-quality student housing near St. Louis to complement his other multifamily investments in the area."

The complex comprises 27 efficiency apartments, 14 studios, four one-bedroom, eight two-bedroom and 48 three-bedroom apartments. Rents range from $285 to $819 per month. Financial details of the sale have not been disclosed.