Pier Property Group Sells 214-Unit Multifamily In Maryland Heights For $54.1M

The Flats at Dorsett Ridge, a 214-unit apartment complex located at 12703 Dorsett Road in Maryland Heights, MO, was sold by Pier Property Group for $54.1 million, resulting in a per-unit price of $252,803. The transaction was facilitated by Northmarq and the buyer was an undisclosed East Coast investor.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $54,100,000
• Units: 214
• Price Per Unit: $252,803
• Seller: Michael Hamburg - Pier Property Group
• Broker: Northmarq
• Market: Maryland Heights, MO

Pier Property Group, led by Michael Hamburg, successfully offloaded the Flats at Dorsett Ridge to an undisclosed East Coast investor. Northmarq represented the seller in this significant multifamily property transaction in Maryland Heights, MO.