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St. Louis, MO | Non-Performing Note Secured by Gateway One Office Tower | Closed on RealINSIGHT Marketplace

  • Jan 07, 2020
  • Marketplace Closings

A St. Louis Class A office tower sold in a non-performing note sale via the online CRE auction website, RealINSIGHT Marketplace.

RealINSIGHT Marketplace and Mission Capital Advisors are excited to announce the closing of Gateway One, a non-performing note, collateralized by a Class A office tower in the CBD of St. Louis, MO.

Gateway One, a 15-story, 409,966 SF office building is in the top tier of the office buildings in the downtown area. With a commanding view of the Gateway Arc, Kiener Plaza, Citygarden, and Busch Stadium the property is located along the Gateway Mall. The building was built in 1986 and was 75% occupied as of May 2019.

Partnering with Mission Capital Advisors, the note was brought to market with much fanfare. The marketing plan focused on those most likely to transact on an online CRE auction website and was successful in generating 117 confidentiality agreements and 13 registered bidders. On auction day there was a flurry of activity with a total of 28 bids, ensuring that the loan was sold at a good price.

"Utilizing RealINSIGHT Marketplace made transacting both efficient and successful. The deal page is clean looking and easy to navigate, which investors appreciate, and the platform overall attracted a wide range of interested parties which ultimately allowed us to create competition for the loan and trade it at a great price. The Marketplace team was professional throughout and made the entire sale process seamless from start to finish."
Kyle Kaminski | Director at Mission Capital Advisors, LLC

To learn more about the closing of this non-performing note secured by an office tower in St.Louis, please visit the asset page or reach out to us at info@rimarketplace.com