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Offering Summary

A Stabilized Student Housing Opportunity Zone Investment in St Louis, Missouri.

The Marshall St. Louis presents a thrilling investment opportunity as a premier student housing development adjacent to St. Louis University, strategically positioned in a high-demand Opportunity Zone. This 508-bed, luxury property offers first-class amenities, including a professional-grade fitness center, collaborative study spaces, and an expansive clubhouse. With strong pre-leasing momentum (49.4% already secured) and construction 90% complete, occupancy is slated for May 2025. The project boasts a projected 4.29x equity multiple, a 17.7% IRR over a 10-year hold, and significant tax advantages through Opportunity Zone incentives. Located near the $8B Cortex Innovation District and the $1B BJC/WashU Medical Campus expansion, The Marshall is perfectly positioned to capitalize on St. Louis's rapid growth, making it a rare chance to invest in a transformative, high-return asset.

Prime Location & Demand

Steps from St. Louis University, the Cortex Innovation District, and the BJC/WashU Medical Campus, ensuring high student housing demand in a market with limited supply.

Luxury Amenities & Design

Features 15,847 sq. ft. of five-star amenities, including a fitness center, entertainment spaces, study pods, and the unique "Townhouse in the Sky" units, catering to premium student living.

Exceptional Investment Potential

Projected 4.29x equity multiple, 17.7% IRR, and significant Opportunity Zone tax advantages, with 49.4% of units pre-leased and completion on track for May 2025.

Offering Highlights
Legal Entity Name
Aptitude St Louis, LLC
Property Location
St Louis, MO
Asset Class
Student Housing
Investment Type
Single Asset
Investment Strategy
Stabilized Development
Investment Objective
Growth, Capital Gains Tax Reduction
Occupancy
177 units / 508 beds
Investor Profile
Accredited Investors Only
1031 Exchange Allowed?
Yes
Strategy
Opportunistic, Development
Opportunity Zone?
Yes
SD-IRAs Allowed?
No
Targeted Hold Period
10 Years
Targeted Total Raise
$30.1 million in new equity
Sponsor Co-Investment
Yes, $6.5 million
Minimum Investment
$100,000
Investment Details
Investment Description
Property Details

Investment Description

The Marshall St. Louis presents a premier investment opportunity in a 508-bed, luxury student housing development strategically located adjacent to St. Louis University (SLU). This ground-up development by Aptitude St. Louis LLC is set within a Qualified Opportunity Zone (QOZ), offering significant tax advantages for investors. With construction already 90% complete and occupancy scheduled for May 2025, the project is well-positioned to capitalize on SLU’s record-breaking enrollment growth and the surrounding Midtown transformation, including the $8 billion Cortex Innovation District and the $1 billion BJC/WashU Medical Campus expansion.

The property itself features 177 units across five residential stories, built over two levels of podium parking, with 15,847 square feet of five-star amenities. These include a professional-grade fitness center, sauna, collaborative study rooms, an entertainment lounge, and the innovative “Townhouse in the Sky” units—SLU's first offering of premium four- and five-bedroom student apartments. With 49.4% of units already pre-leased and strong leasing momentum continuing, the project is on track to meet its targeted stabilization quickly after opening.

From an investment standpoint, The Marshall St. Louis offers compelling returns with a projected 4.29x equity multiple, a 17.7% IRR, and significant Opportunity Zone tax benefits, including potential elimination of capital gains taxes after a 10-year hold. The targeted total raise is $30.1 million, with a $6.5 million co-investment from the sponsor, ensuring alignment with investor interests. This rare combination of strong market fundamentals, luxury housing, and tax efficiency makes The Marshall an outstanding addition to any investor's portfolio.

Property Description

The Marshall St. Louis is a state-of-the-art, luxury student housing development located just 600 feet from St. Louis University (SLU). The property features 177 units with 508 beds, spread across five residential stories atop two levels of podium parking. Designed to meet the growing demand for modern student accommodations, it offers premium living spaces with high-end finishes, including granite countertops, manufactured wood floors, stainless steel appliances, and in-unit washers and dryers. Each unit is fully furnished, with key-fob access, private bedroom locks, and high-speed fiber-optic internet.

The 15,847 square feet of five-star amenities elevate the resident experience, including a professional-grade fitness center, sauna, expansive hot tub complex, and collaborative study spaces. Students can enjoy individual study pods, entertainment lounges, billiards tables, grilling stations, fire pits, and a café, creating a vibrant community within the building. A standout feature is the "Townhouse in the Sky" units on the top two floors—SLU's first offering of four- and five-bedroom luxury apartments, perfectly aligning with the market’s overwhelming demand for larger student living spaces.

Positioned in the heart of Midtown’s multi-billion-dollar redevelopment, The Marshall sits near the Cortex Innovation District, BJC/WashU Medical Campus, and City Foundry, a mixed-use hub for dining, shopping, and entertainment. The building’s prime location not only enhances student lifestyle but also ensures sustained occupancy and rental growth, making it an exceptional asset within a thriving urban environment. With construction 90% complete and occupancy slated for May 2025, The Marshall represents the next generation of premium student housing in St. Louis.

Investment Terms
Opportunity Zone Investment

Maximum Raise*

$30.1M in new equity

Minimum Investment

$100,000

Anticipated Hold Period

10 years

Projected IRR

17.7% (Targeted 10Y Hold)

Equity Multiple

4.29x

Total Net Returns

$99,094,000

Investors seeking to defer and potentially reduce capital gains tax liabilities may consider The Marshall St. Louis Opportunity Zone investment. By reinvesting eligible capital gains into this qualified Opportunity Zone project, investors can potentially defer tax obligations while gaining exposure to a premium real estate asset with significant long-term appreciation potential.

Opportunity Zone investments also offer the possibility of tax-free growth on gains if the investment is held for at least 10 years, in accordance with Opportunity Zone regulations. While individual benefits depend on personal circumstances and current tax laws, this strategy is designed to promote economic growth while providing substantial financial advantages to investors.

By participating in this project, investors gain access to a structured real estate investment in a high-demand market, while leveraging tax incentives that can support long-term wealth-building strategies. As always, investors should consult with a qualified tax advisor or financial professional to determine how Opportunity Zone benefits apply to their specific situation.

Indicate Interest
The Team

Aptitude Development, founded in 2014, has rapidly grown into one of the nation’s premier student housing developers, known for delivering ground-up projects that exceed market expectations. With a commitment to creating modern, high-quality living spaces, Aptitude consistently achieves superior risk-adjusted returns for its expanding investor base. This entrepreneurial endeavor has transformed into a powerhouse in the industry, with a track record of success that continues to attract new opportunities and partnerships.

With 10 ground-up developments, over 20,000 beds in various planning stages, and a robust $1 billion pipeline, Aptitude Development is shaping the future of student housing across the United States. The company’s forward-thinking approach allows it to identify and pursue opportunities in emerging markets that others overlook, ensuring strong returns for its network of 600+ unique investors. Each project reflects Aptitude’s dedication to quality, innovation, and maximizing value for both residents and investors.

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Head of New Development, Acquisitions & Equity
Jared Hutter
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Head of Construction, Asset Management & Debt
Brian Rosen
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Advisor & Debt Relationships
Robert Lazarowitz
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Partner, ACARA Management
Todd Vitzthum
Todd Vitzthum, founder of ACARA Management, is a national leader in multifamily capital markets, managing the fund for Hoque Global. With 20 years at CBRE, Cushman & Wakefield, and Greystone, he has led billions in transactions, specializing in capital structuring and large-scale investments.
Documents & Resources

Aptitude St Louis, LLC

Due Diligence Materials (1/3)
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Pro Forma Financials
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Subscription Agreement
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Offering Deck
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Developer Site
Due Diligence Materials (2/3)
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Operating Agreement
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Debt Package
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Architectural Renderings
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Image Repository
Due Diligence Materials (3/3)
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Economic Analysis
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Commitment Letter
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ACARA™ Website
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Assumptions & Risks

Key Risk Factors for Investing in Aptitude St. Louis LLC

Investing in Aptitude St. Louis LLC private placement carries significant risks, including the potential loss of the entire investment. These investments are illiquid, speculative, and not suitable for all investors.

Key Risk Considerations:
  • High Risk & Limited Liquidity – No public market exists for these investments, making them suitable only for sophisticated investors.
  • Speculative Strategy & No Guaranteed Returns – Investment objectives may not be met, and returns are not assured.
  • Distributions & Redemptions – May be funded through borrowings, offering proceeds, or asset sales, with no limit on the amount sourced this way.
  • Market Volatility – Investments may include securities with high risk and fluctuating valuations.
  • Debt Financing Constraints – Access to financing may be restricted, subject to interest rate hikes, or include restrictive covenants and early repayment obligations.
  • Real Estate-Specific Risks – Includes tenant competition, occupancy challenges, interest rate exposure, insurance limitations, and inflation impact.
  • No Minimum Capital Raise Requirement – The offering proceeds regardless of total capital raised.
  • Potential Conflicts of Interest – Includes compensation structures, incentive fees, affiliated positions, co-ownerships, and investment allocation practices.

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Disclosures
This website and the information contained herein are for informational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy securities. OZ Listings does not engage in capital raising, securities offerings, or investment solicitation. Any investment opportunities referenced on this site, including The Marshall St. Louis Opportunity Zone investment, are managed by third-party sponsors, with ACARA solely sourcing capital for the sponsor, Aptitude St. Louis LLC, and facilitating investor access to the opportunity.
 
An offering is made only through a Private Placement Memorandum (“PPM”) or similar offering document provided by Aptitude St. Louis LLC. The information presented must be read alongside the PPM to fully understand the risks and benefits of the offering. Neither the U.S. Securities and Exchange Commission (“SEC”) nor any state securities regulator has approved or disapproved this offering. Any representation to the contrary is false and misleading. Investment is restricted to accredited investors as defined by the SEC (SEC.gov | Accredited Investors).
 
Investments in this opportunity carry a high degree of risk, volatility, and illiquidity. Past performance is not indicative of future results, and there is no assurance that any investment objectives will be achieved. Investors should consult their own legal, tax, financial, and investment advisors before making any investment decision. Forward-looking statements, including projections about financial performance, market conditions, and investment outcomes, are subject to risks and uncertainties that may cause actual results to differ materially. OZ Listings, ACARA, and Aptitude St. Louis LLC assume no obligation to update these statements as future conditions evolve.