Search
 

Behringer Buys Interest in Historic Properties

ST. LOUIS-Valued at more than $180 million, the transaction includes $95 million for the renovation of The Chase Park Plaza hotel and the adjacent Park Plaza residential tower.

By Danielle Anderson | Updated on December 14, 2006

(To read more on the multifamily market, click here.)

ST. LOUIS-Behringer Harvard has acquired a majority interest in Chase Park Plaza, a 1.2 million-sf historic mixed-use property that encompasses most of a city block in the Central West End neighborhood here. The transaction, which is valued at more than $180 million, includes $95 million for a planned renovation of the property, a company spokesperson tells GlobeSt.com. James Smith, a longtime, local part-owner, operator and developer of Chase Park Plaza, is the minority owner.

Built in the 1920s, Chase Park Plaza comprises an 11-story, 251-room luxury hotel, a 29-story residential high-rise called Park Plaza, and a five-story parking garage. The complex also includes five restaurants, about 65,000 sf of banquet and meeting space, outdoor swimming pool, fitness facility, and about 60,000 sf of retail and office space.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.