Marcus & Millichap Arranges Sale of 490-Unit Trinity Park Apartments in North St. Louis via Online Auction
Marcus & Millichap has arranged the sale of Trinity Park Apartments, a 490-unit multifamily property located at 11065 Dunklin Drive in North St. Louis, Missouri, the firm announced Aug. 13, 2026. The transaction was executed through an online live bid auction conducted by Marcus & Millichap.
Deal Team and Transaction Structure
Ryan D. Engle, senior managing director investments, Andrean Angelov and Aaron Kuroiwa — investment specialists in Marcus & Millichap's Chicago Oak Brook and Indianapolis offices — held the exclusive listing to market the property on behalf of the seller. Engle and Angelov, along with Mike Cusick in the firm's St. Louis office, procured the buyer.
Adam Sklaver and Philip Kates of Marcus & Millichap's auction services division collaborated with the listing team to market the asset and assist in securing the buyer.
"Trinity Park Apartments offered investors a significant value-add opportunity," Engle said in the announcement. "The property's below-market occupancy presented a substantial lease-up opportunity for the new ownership."
Property Details: Trinity Park Apartments
Trinity Park Apartments spans 24.08 acres and comprises 34 residential buildings containing 285 one-bedroom and 205 two-bedroom residences, for a total of 490 units. Community amenities include a clubhouse, swimming pool, fitness center, picnic area and tennis courts.
The property is situated approximately 13 miles from downtown St. Louis and offers access to Interstate 270 and Route 367, as well as proximity to major employment centers and the future Saint Louis Zoo WildCare Park.
Value-Add Positioning and Market Context
Marcus & Millichap described the property's occupancy as below market at the time of sale, meaning the incoming owner faces a lease-up period before the asset reaches stabilized cash flow. In multifamily investment, a stabilized occupancy range is generally considered to fall between roughly 90% and 95%, and reaching that threshold after a value-add acquisition can take 12 to 18 months depending on local market conditions.
The broader U.S. multifamily market has seen elevated completions and units under construction keep vacancy near 8% nationally, with rent growth running around 1% year over year. That supply pressure has moderated near-term rent growth in many markets, but it has also created buyer interest in discounted or underperforming assets where investors believe they can close occupancy gaps and capture net operating income growth once stabilized.
Online live bid auctions are frequently used to clear transitional assets and attract a broad pool of prospective buyers, particularly when a property carries execution risk tied to occupancy recovery.
About Marcus & Millichap
Marcus & Millichap (NYSE: MMI) is a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of Dec. 31, 2025, the company had 1,808 investment sales and financing professionals in more than 80 offices. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion.