Dunes Apartments

Opportunity Overview

• The Sponsor is under contract to purchase the Adler Annex Lofts, formerly the Edge Lofts (the “Property”), located in downtown St. Louis.
• Gomel has been in negotiation for the Adler Annex for several months prior to the outbreak of COVID-19. In the current environment the Seller has agreed to our compelling price and terms.
• The Property is nonperforming due to absentee management with no previous multifamily experience. Upon entering the contract, our property management team has taken over management of the property and has discovered significant staffing issues which we have already addressed. The numbers have already begun improving despite the negative impact of COVID-19

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