Lago Vista

Opportunity

Berkadia is honored to exclusively present Lago Vista Apartments for sale, a 680-unit, garden-style multifamily community located in St. Charles, Missouri—the fastest-growing county in the state and ranked the #1 place to live in Missouri. This institutionally managed asset offers investors an exceptionally rare opportunity to acquire immediate scale in a market poised for continued explosive growth, underpinned by powerful macroeconomic drivers.Lago Vista is strategically located along Interstate 70, providing direct access to the St. Louis Metro’s largest employment centers, universities, and retail destinations. The property is within a 15-minute drive of 40 million+ square feet of office, industrial, retail, and entertainment space and sits adjacent to Lindenwood University (7,000+ students). Its central location, unmatched scale, and tranquil lakefront position it as a top-tier asset in a high-demand suburban submarket. Originally built in 1986 and substantially renovated from 2014-2023 ($10 million total capital injection), with 95%+ occupancy and no concessions. Lease renewals are capturing 5.5% average organic rent increases—without improvements—indicating meaningful upside through a light or moderate value-add program. Lago Vista’s 7.5-acre private lake, renovated clubhouse, pools, and lakefront units offer lifestyle-driven appeal rarely found at this scale nor in the Midwest. What further sets Lago Vista apart is the recent award of a $20 billion defense contract to Boeing’s Space & Defense division—located just 15 minutes from the property. This is the largest contract in St. Louis history and will create thousands of high-paying engineering, technical, and aerospace jobs. The ripple effect across housing, infrastructure, and economic development is expected to be transformational, fueling long-term rent growth and renter demand in surrounding areas—particularly in strong, commuter-accessible locations like Lago Vista.With a current 6.0% cap rate (T-12) and 6.15% (T-3), backed by recent capital investments, Lago Vista is a strong cash-flowing, high-performing asset with significant runway for future growth. In a tightening market with record-fast absorption of new supply, Lago Vista delivers the rare trifecta of scale, stability, and transformative upside—anchored by the most game-changing economic announcement St. Louis has seen in its history.

Visit Doc Center

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

Visit Doc Center

ST. LOUIS OFFICE

101 S. HANLEY ROAD, SUITE 550 ST. LOUIS, MO 63105 PHONE: 314.984.5500 | FAX: 314.498.5501

Investment Advisors:

FINANCING:

Christopher Ellis

Senior Managing Director 303.689.8317 christopher.ellis@berkadia.com

KEVIN KOZMINSKE

Senior Managing Director 314.984.5514 kevin.kozminske@berkadia.com

ANDREA KENDRICK

Managing Director 314.984.5591 andrea.kendrick@berkadia.com

BOBBY MILLS

Senior Director 314.984.5505 bobby.mills@berkadia.com

PHOTO GALLERY

Premier Location in High-Growth St. Charles County

Investment Highlights

Contact

PHOTO GALLERY

HIGHLIGHTS

OPPORTUNITY

Document Center

Privacy

Visit Doc Center

1300 Sun Lake Dr. | St Charles, MO

680garden-styleMultifamily24 miles NW of Downtown St. Louis near the intersection of W Clay St and Pundmann Pkwy / S Duchesne Dr, north of I-70 and west of Lindenwood University 1986 / 2014 / 202359 (plus a leasing office and clubhouse) two, two and one-half, and three story frame brick, siding, and decorative shutters pitched roofs with composition shingles 47.18 acres14.41 units per acreyesClay Street Hafers Lake1,345 spaces100% of units have connections (full sized side-by-side) plus 2 on-site laundry facilities

# of Total Units:Style:Type:Distance from Downtown:Location: Year Built:# of total buildings: # of stories/floors in each building: Building materials:Exterior building materials: Roof type: Acres of land: Density: Pets allowed:Major street exposure: Lake frontage:Parking:Laundry:

PROPERTY SUMMARY

LOCATION

300 one-bedroom units measuring between 704 and 708 square feet 380 two-bedroom units measuring between 875 and 986 square feet Average unit size of 845 square feet

UNIT MIX

In the Heart of St. Charles with a Seven-Acre, Stocked Fishing Lake with Docks and Fountains Two Swimming Pools and a Spa with Sundecks, Granite Countertop Grilling Stations, Picnic Area, and Pergola Covered Lounge Area Clubhouse with Entertainment Space, TV and Fireplace Lounge, Kitchenette, Foosball, Air Hockey, Lake Views, and Access to Outdoor Picnic and Grilling Area New State-of-the-Art Fitness Center with Cardio and Weightlifting Equipment and Free Weights Business Center Lighted Outdoor, Multi-Purpose Sports Courts Including Tennis / Pickleball and Basketball Playground and Dog Park with Agility Course Spacious Picnic Areas with Lakeside Views Laundry Facilities Plenty of Convenient, On-Site Parking and Covered Carport Parking and Preferred Parking are Available Beautifully Landscaped with Manicured Grass, Mature Trees, Trimmed Shrubs, Plants, and Colorful Flowerbeds Online Resident Portal / Smartphone App with Rent and Maintenance Request Acceptance Close to Parks, Golf Courses, Schools, Stores, Restaurants, and Entertainment Options Easy Access to Interstate 70, State Routes 94 and 370, St. Charles Historic District, Missouri River, St. Louis Lambert International Airport, and Lindenwood University

Community Amenities

Variety of Spacious Floor Plans Upgraded Units are beautifully Appointed with Stainless Steel / Black Appliances, Granite Countertops, Tiled Kitchen Backsplash, Shaker-Style Cabinetry, and Wood Plank LTV Flooring Fully Equipped Kitchen with Electric Stove, Refrigerator, Dishwasher, Disposal, Built-In Microwave, Sink, Breakfast Bar, Dining Area, and Plenty of Cabinet and Counter Space Plush Carpeting, Lighted Ceiling Fans, and Mini / Vertical Blinds Full Size Bathroom with Tub and Shower Combination / Walk-In Shower Large Windows, Generous Closet Space, and Semi-Private Entry Private Patio / Balcony with Sliding Glass Doors and Outside Storage Select Units Include a Kitchen Pantry, Pass Through Kitchen Window, Scenic Lake Front Views, Wood-Burning Fireplace, Walk-In Closets, and Full-Size Washer and Dryer Connections Air Conditioning / Heating, Cable TV Ready, and High-Speed Internet Access

Unit Amenities

KEN ASTON

Managing Director 314.984.5590 ken.aston@berkadia.com

CORTNEY MAULDIN

Managing Director 314.322.3463 cortney.mauldin@berkadia.com

PAT GARLICH

Director 314.984.5536 pat.garlich@berkadia.com

Opportunity

Highlights

Photo Gallery

Document Center

Privacy

Located in St. Charles, Missouri — the fastest-growing county in the state of Missouri and the #1 ranked place to live in Missouri Excellent access to Interstate 70, connecting residents to top employers, universities, retail centers, and entertainment Central to the St. Louis Metro, offering unmatched live-work-play accessibility

Surrounded By St. Louis’ Largest Employment Hubs

~40 million SF of employment space within a 15-minute drive, including: Riverport Business Park (8 mins): 500-acre mixed-use business park with major office buildings, restaurants, hotels, and distribution facilities Earth City Business Park (8 mins): 1,360-acre hub with 5 million SF and 50+ major firms, including several Fortune 500 companies Westport Submarket (15 mins): 18.1 million SF of office, industrial, retail, entertainment, and multifamily housing Edward Jones Headquarters (12 mins): 372,000-square-foot, nine-story tower; four-story tower connected by a four-story atrium; new training center; and multipurpose auditorium on the Edward Jones North Campus in St. Louis. St. Louis Lambert International Airport (13 mins): Internationally renowned architecture firm, HoK, selected to spearhead the $2.8 billion renovation and design of new terminal Riverpointe (7 mins): $350 million mixed-use riverfront destination currently under construction with 500 apartments, hotel, retail, and rooftop restaurants. 4,000 projected new jobs with a $1.5 billion economic impact High-Tech Corridor: One of the metro’s highest concentrations of data centers

Transformative $20 Billion Boeing Contract

Boeing Catalyst = Explosive Future Demand Boeing’s recent $20 billion contract to produce the F-47 fighter jet is poised to significantly impact the St. Louis region’s economy, particularly in the aerospace and defense sectors. This contract is expected to lead to substantial job creation and economic growth in the area. Boeing’s Expansion and Hiring Plans: St. Louis Space & Defense HQ Expansion: Boeing is currently investing $1.8 billion to expand its St. Louis facilities, which will include the construction of new production lines and the modernization of existing infrastructure to accommodate the F-47 program. Implications for the St. Louis Region: Economic Impact: The influx of high-paying jobs is expected to stimulate the local economy, increase demand for housing, and boost retail and service industries. Housing Demand: With thousands of new employees relocating to the area, there will be a heightened demand for quality housing options, presenting opportunities for real estate investors and developers. Workforce Development: Local educational institutions and training programs may see increased enrollment as they align curricula to meet Boeing’s workforce needs.The F-47 program not only signifies a major advancement in defense technology but also serves as a catalyst for regional economic development, positioning St. Louis as a central hub in the aerospace industry.

Exceptional Financial Performance

NOI growth of 30%+ ($1.72 million increase) over the past 3 years 95%+ occupancy sustained for more than 30 years Lease renewals achieving 5.5% average rent increases Rent growth primarily organic driven due to heavy resident demand — no concessions, no resident pushback

Unique Amenity Offering in the Market

7.5-acre stocked lake with recreational islands, fishing docks, and lakeside BBQs Renovated clubhouse and fitness center with lake views Two resort-style swimming pools with cabanas and grilling stations Outdoor sport courts, scenic picnic areas, and granite BBQ grills Units feature lakefront views, balconies/patios, wood-burning fireplaces, and in-unit washer/dryers

Attractive In-Place Yields + Proven Value-Add Upside

6.0% in-place cap rate on T-12 | 6.15% in-place cap rate on T-3 Previously traded at a mid-4% cap rate, highlighting future compression and resale potential Proven value-add strategy in place with opportunity to continue interior unit upgrades (~60% of units remain classic) High demand for upgraded units in the submarket 3.6% year-over-year market effective rent growth | 7.5% year-over-year effective rent growth for Class B product

Desirable Suburban Setting

Located within a top-rated school district with strong demographics Median HHI of $103,444 Median Housing Value of roughly $305,000, a 6.5% increase compared to last year St. Charles has seen ~5,000 new residents annually over the past 15 years Significant economic development; high absorption rates due to persistent and growing renter demand

SIGNIFICANT CAPITAL INVESTMENT | $14 MILLION / $20,000 PU CAPITAL INJECTION

Positioned for long-term appreciation with recent upgrades: Full Hardie Board siding replacement throughout entire property SCHEDULE OF CAPEX VALUES | 2021-2023 See Excel capex scheduleN Fully renovated clubhouse, leasing center, and fitness facility Enhanced landscaping, pool decks, lighting, signage, fencing, and parking areas Interior and exterior doors, chimney repairs, and resurfaced sport courts

FINANCIAL Highlights

Proven Ability to Capture Organic Rent Growth + Value-Add Upside

Lago Vista Apartments has demonstrated compelling evidence of in-place rent growth and strong tenant retention, even prior to implementing a full-scale renovation strategy. A deep dive into the April 2025 rent roll reveals a highly encouraging trend:

Proven Ability to Drive Rent Growth Organically

Over the past 6 months, 20.3% of occupied units are leased above market rent, demonstrating real pricing power in the current environment. The portfolio is achieving an average gain-to-lease of $67 per unit, or 4.99%, across the board—without concessions or pushback. This trend confirms the asset’s ability to grow rents both organically through renewals and strategically through targeted upgrades, reinforcing the viability of the value-add strategy.

Immediate Yield + Value-Add Scalability

6.0% in-place cap rate on T-12 | 6.15% on T-3 Opportunity to increase rents $75–$150+ with light interior renovations Submarket rent comps support even higher premiums for updated product – premiums ranging fro $150-300/mo.

Exceptional In-Place Performance

$11.15M in trailing twelve-month revenue (April 2025 T-12) NOI has grown 30%+ over the past 3 years, showcasing operational momentum Consistently high occupancy (minimum 95%) Historically maintained 95%+ occupancy for over 30 years

Strong Rents with Clear Upside

Average Market Rent: $1,276 Average In-Place Rent: $1,209 Loss to Lease: ~5.3%, highlighting built-in rent growth potential through renewals Renewals already capturing +5.5% rent bumps organically without concessions or resistance

Proven Demand Across Unit Types

All unit types exhibit healthy occupancy and rent levels Stable tenant base with minimal delinquency or turnover risk Diversified renter profile includes professionals, students (adjacent to Lindenwood University), and families

6.0% in-place cap rate on T-12 | 6.15% on T-3 Across all occupied units, the property is achieving an average gain-to-lease of $67 per unit, or approximately 4.99% above asking rents — a critical metric proving the asset’s ability to outperform projections.

Drive NOI through targeted capex investments Bridge the loss-to-lease across the other 80% of the asset Increase asset valuation through natural rent roll-ups and improved unit quality

This positive spread is not only rare in today’s rate-sensitive environment, but also signals strong embedded demand and underlines Lago Vista’s pricing power without discounting. Rent premiums are being achieved organically through strategic renewals, thoughtful property enhancements, and quality management practices—without costly concessions or over-renovation. Furthermore, this organic gain-to-lease trend serves as real-time proof-of-concept for a scalable value-add initiative. With market comps supporting rent increases of $125–$200+ for modest interior upgrades, investors are presented with a tangible and highly achievable roadmap to:

In short, Lago Vista isn’t just maintaining stability, it is already outperforming expectations and positioned to capitalize on even greater upside through strategic execution.

20.3% of units are leased above market rent, a compelling sign of organic rent strength. The remaining 79.7% still offer gain-to-lease capture through renewals or upgrades.

LOCATION