ORLAND PARK, Ill., Jan. 12, 2017 /PRNewswire/ -- Edwards Realty Company and Condor Partners have formed a joint venture partnership to complete the purchase of The Boulevard St. Louis, a 200,000 square foot five-acre retail, luxury apartment and office enclave in Richmond Heights across from the St. Louis Galleria. The sale included the 4.8 acres south of the commercial development. Terms of the sale were not disclosed.
Edwards Realty Company is a privately held real estate investment and development firm based in Orland Park, Illinois and led by Edward Hassan, founding partner, and Ramzi Hassan, partner. Edwards Realty Company has over 25 years experience in retail, residential and mixed-use management and development and controls a $65 million commercial property portfolio. Sol Barket, formerly of St. Louis, heads Condor Partners. Barket as founding partner of Condor and with his prior company, Centrum Properties, has developed many retail and mixed-use projects from coast to coast including Creve Coeur Pavilion in St. Louis.
Since 2004 The Boulevard has been known as the premier lifestyle development in the St. Louis metropolitan area and is home to Missouri's first Crate and Barrel store and Soft Surroundings' first Missouri location, restaurants Maggiano's Little Italy and P.F. Chang's China Bistro, along with Allegro at The Boulevard, 74 luxury residential apartments and a professional office complex.
"The purchase of The Boulevard is part of our strategy to enhance and add value to a mixed-use destination that is highly regarded as the epicenter of the market," said Edwards Realty Partner Ramzi Hassan. "The Boulevard is a great brand with tremendous growth and development potential, and we intend to implement strategies to unlock that potential immediately."
Edwards and Condor are planning to advance the second phase to include an exciting mix of retail, restaurants, entertainment, office and residential uses that will give the residents and visitors of greater St. Louis a one-of-a kind experience where they can live, shop, dine and play. Edwards Realty Company will oversee management and operations of the property. The marketing and leasing responsibilities for phase two will be shared between Mid-America Asset Management Company, a Chicago based retail real estate organization, and Pace Properties. Further announcements regarding The Boulevard will be forthcoming in the very near future.
The Boulevard St. Louis is located in Richmond Heights, MO.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/edwards-realty-company-and-condor-partners-complete-purchase-of-the-boulevard-st-louis-lifestyle-center-300390439.html
SOURCE Edwards Realty Company