Michael Bailey’s Fireside Financial, a private equity firm based in Edwardsville, is on the market to grow its real estate portfolio, looking to buy two to three apartment properties as well as 300,000 square feet of self-storage space this year. In addition to Fireside’s expected acquisitions in 2012, the company also plans to launch two new investment funds totaling a combined $500 million in assets in early 2014, according to Bailey, who founded Fireside in
A private equity firm in Illinois recently inked a deal to buy the Hunter’s Glen Apartments in Chesterfield for more than $10 million, acquiring the multi-family complex from a Boston pension fund adviser. Michael Bailey’s Fireside Financial of Edwardsville closed Sept. 18 on the purchase of Hunter’s Glen from Boston-based Eaton Vance. While terms of the deal were not disclosed, the property was appraised at about $9.6 million, according to the St. Louis County Department
Gannon Realty Group and Fireside Financial partnered to buy the Charter Place Apartments in Creve Coeur for $22 million. The deal is among the area’s largest multi-family sales in the past 18 months as investment sale activity has slowed to a crawl. The sale of the 284-unit property at 11907 Charter House Lane near Olive and I-270 closed March 3. Principal Global Investors of Des Moines, Iowa, bought the property in 2005 for $30 million.