ST. LOUIS, July 31, 2023 (GLOBE NEWSWIRE) -- Prelude Capital Management, LLC (“Prelude”), a multi-billion dollar global asset manager with offices in the US, Europe and Asia, has announced the formation of a real estate joint venture with a New York Stock Exchange-listed financial services conglomerate.
The joint venture acquired a 40-unit multifamily property, De Tonty Street Apartments, in the historic Shaw neighborhood of St. Louis, Missouri, where Prelude owns and operates over 100 other units.
Gavin Saitowitz, CEO of Prelude, said: “After spending years developing our track record of investing in multifamily housing, we are committed to building new partnerships with quality assets sourced through our proprietary networks in Midwest tertiary markets. These areas benefit from the same positive tailwinds as the Sun Belt, but without the comparable compression of capitalization rates.”
