New owner buys 394-unit Hazelwood apartment complex

Michael Bailey’s Edwardsville-based Fireside Financial has purchased the 394-unit Chez Paree Apartments in Hazelwood. The deal closed at the end of last month. Selling the property was a company that counts Arthur Loomstein of Creve Coeur-based Centerco Properties. Click Here for Original Article

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Whispering Heights Groundbreaking Ceremony

Fireside Financial celebrated the Groundbreaking Ceremony for their Whispering Heights development on November 6th, 2018. This modern and innovative mixed-use community will include 153 apartment homes and over 18,000 square feet of retail and restaurant space. Featuring upscale, modern i­­nterior finishes, private garage parking, state-of-the-art fitness facility, and rooftop terraces. Located off 157, minutes from downtown Edwardsville and immediately adjacent to the Madison County Transit Bike Trail. Whispering Heights will offer luxury living steps away

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Whispering Heights was featured in the Intelligencer

“The city will be rolling out the red carpet sometime next year for Edwardsville Town Center and Whispering Heights, part of a long-term plan to attract millennials to the city.” Click the link below to read more about Edwardsville’s newest developments. Click Here for Original Article

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New development Whispering Heights made front page news

Fireside Financial made front-page news in the Advantage today discussing our $28 million project, Whispering Heights. This 6-floor complex will feature retail space on the first floor and 152 residential units of the remaining 5 floors which will be available from millennial’s to seniors. Whispering Heights will include amenities such as a residential fitness center, private parking, as well as offer self-contained living for the residents convenience. Click Here for Original Article

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North County apartment complex sells for $28.5 million

Michael Bailey’s Fireside Financial, a private equity firm based in Edwardsville, has acquired Madison at Aspen Woods, a 452-unit apartment complex in Florissant, for $28.5 million. Equus Capital Partners was the seller. Berkadia provided the buyer a fixed-rate, 10-year loan with a 30-year amortization. Berkadia’s Mid Markets team — which includes Senior Directors David Gaines and Alex Blagojevich, Director Michael Sullivan and Associate Director Patrick Sullivan along with Berkadia’s Andrea Kendrick and Ken Aston — helped

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Bailey raises millions for new venture fund

Michael Bailey, an Edwardsville, Illinois-based private equity manager, has raised $25 million for a limited liability company called FREP Debt I, according to documents filed with the Securities and Exchange Commission. The money came from a single, undisclosed investor. The funds, Bailey said, will be used to buy commercial mortgage backed securities (CMBS) tied to multifamily housing development commercial loans. “(CMBS) are somewhat out of favor right now, but we see it getting back into favor

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