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CHASE PROPERTIES ANNOUNCES THE ACQUISITION OF NEW TOWN APARTMENTS IN ST. CHARLES, MISSOURI

BEACHWOOD, Ohio — Chase Properties Ltd., a Beachwood, Ohio-based real estate owner and operator, in partnership with Gold Block Ventures, announces the acquisition of New Town Apartments in St. Charles, Missouri, a growing suburb of St. Louis.

New Town Apartments is a 157-unit property with an additional 68 units under development in New Town, a highly amenitized master-planned community in St. Charles County.

The acquisition of New Town Apartments is consistent with Chase’s strategy to increase their portfolio to include multifamily in highly stable markets. According to Yoel Mayerfeld, Chase Co-CEO, “New Town represented a unique opportunity to own some of the best rental properties in St. Charles County due to the brilliant planning of this self-sustaining community that is New Town.”

Chase Properties Ltd is a full-service owner and operator of shopping centers located in 17 States throughout the Midwest, Southern and Eastern U.S. The company was founded in 1973.  Currently, Chase Properties owns and manages 32 shopping centers comprised of approximately 7 million square feet. Additional information can be found at www.chaseprop.com.

(216) 464-6626

Yoel Mayerfeld

Co-CEO