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Clayton luxury apartments sold for over $30M

The apartments have been sold to a Chicago-area investor of Midwest multifamily projects
Credit: SLBJ

ST. LOUIS — The Ceylon apartments in downtown Clayton have been sold to JVM Realty Corp., a Chicago-area investor of Midwest multifamily projects.

The seller was Opus Group, which built and developed the 120-unit apartments for $41 million in 2018. CBRE's Matt Bukhshtaber represented Opus in the deal. A CBRE spokesman declined to comment.

A sales price for 25 N. Central Ave. was not disclosed, but similar properties have sold for over $30 million, according to research from real estate data firm Reonomy. Commercial real estate sources said the property sold for north of $30 million.

The Ceylon apartments are the only St. Louis-area property in JVM's portfolio, which consists of apartments in Kansas City, the Chicago suburbs and Indianapolis. JVM is led by President and CEO Jay Madary, according to its website.

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