Last Updated ( 03/28/2012 15:57 )
DATE_FORMAT_LC2=Tuesday,March 27 2012 05:00:00 AM   
University of Missouri Property Sells

GrindstoneCanyonWEBThere's a new owner of Grindstone Canyon Apartments in Columbia. The property features a tri-level movie theater.Columbia, Mo. — Hendricks & Partners' National Student Housing Advisory Group has announced that Grindstone Canyon, a 384-bed apartment serving the University of Missouri, has been sold. The seller was Grindstone Canyon Apartments, a limited liability company based in St. Louis, Mo., and the buyer was KAREP REIT II Inc, a Delaware Corporation of Armonk, N.Y.


The transaction was negotiated by Ken Aston and Andrea Kendrick of Hendricks & Partners' St. Louis office and Kevin Larimer, national director of student housing for Hendricks & Partners on behalf of the seller. The sales price was not released, but according to a release from NAI DESCO, the property sold for more than $15 million in 2011.


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