Find the opportunity
We seek apartment communities whose potential has been limited by deferred maintenance, undercapitalization, or ineffective management. We source these opportunities through brokers, lenders, special servicers, and note sales.
St. Louis based · Midwest focused
Seeing potential
in every property.
We acquire and improve apartment communities, creating better places to live and lasting value for our investors.
Explore STRAQRWho we are
Real estate investment grounded in opportunity.
STRAQR Investment Funds are managed by Strategic Advisors LLC, founded in 2009 and operated by Rick Sullivan and Kurt Hunter. From residential land to multifamily communities, our funds have pursued overlooked assets with a clear plan for improvement.
Our apartment investments span Missouri, Illinois, Indiana, Ohio, Kentucky, Kansas, and Oklahoma.
Explore our fund historyTrack record
Experience built one investment at a time.
$200M+Invested in purchases and improvements
3,000+Apartments purchased
3,200Residential building lots purchased
2009Year the manager was founded
Cumulative purchase and improvement activity since 2009. These figures do not represent current assets under management or investment returns.
Our approach
A plan for the property.
A purpose for the work.
Invest with intention
Each property receives a tailored plan for interiors, building systems, common areas, and the resident experience.
Operate and realize value
We work closely with experienced local property managers to execute the plan, stabilize operations, and evaluate the right time to refinance or sell.
Selected investments
Places with a
next chapter.
From revitalized apartments to new living options, each investment starts with a property and a plan.
St. Louis, Missouri · Fund IV
Legends at Pasadena Hills
324 apartments acquired in 2021 with substantial deferred maintenance. STRAQR has undertaken extensive apartment, roof, and site improvements.
Springfield, Missouri · Fund V
Springfield Portfolio
158 apartments across two nearby locations acquired in December 2024, with planned interior upgrades.
Frankfort, Kentucky · Fund V
Huntley Ridge East
365 apartments across four locations, acquired in 2022 and repositioned through interior and common area improvements.
Tulsa, Oklahoma · Fund VI
Huntley Ridge
152 apartments acquired in 2024, with renovations to common areas, apartment interiors, and parking.
Oklahoma City, Oklahoma · Fund IV
Tudor Crossing
170 apartments acquired in 2022. STRAQR’s plan included new windows, exterior repairs, landscaping, and upgraded interiors.
More of the portfolio
Past holdings
Work that shaped
what comes next.
Select a property to read its story.
The people
Experience behind
the decisions.
Rick Sullivan
Former Chairman and CEO of McBride & Son Companies, where he spent 35 years helping grow one of the country’s largest privately owned homebuilders. Rick is a CPA and served as CEO of the Special Administrative Board of the St. Louis Public Schools.
Kurt Hunter
Kurt began acquiring distressed and undercapitalized multifamily properties in 2007 and joined Strategic Advisors in 2009. He holds a BS from Indiana University’s Kelley School of Business and an MBA from Saint Louis University.
Kevin Limbert
Kevin sources multifamily investment opportunities across the Midwest, working with owners and brokers to find communities with potential for thoughtful improvements. He graduated from Drury University in 2003.
Advisory members
Douglas S. Brown — Former President of Enterprise Fleets and Executive Vice President of Enterprise Rent-A-Car’s parent company.
L.B. Eckelkamp, Jr. (1943–2026) — In memoriam. Former Chairman and CEO of Bank of Washington and STRAQR advisory member.
Kenneth Suelthaus — Senior Partner at Polsinelli PC with a long career in complex business transactions.
The funds
Built across cycles.
Focused on what comes next.
Each fund has its own mandate. Select one for its full history and investment focus.
Residential land
Distressed developed lots in the St. Louis region.
Expanded focus
Residential lots and land, with the first apartment investment.
Multifamily begins
Distressed and undercapitalized apartments across the Midwest.
Regional growth
Apartment repositioning in five Midwestern states.
Longer-term value
More stable cash flow with improvements over time.
Repositioning
Mismanaged or undercapitalized apartment opportunities.
In the news
Stories from
the communities.
Select a story to view the article PDF.
Contact
Let’s start a
conversation.
We welcome conversations with owners, brokers, lenders, investors, and others who see potential in Midwest real estate.
St. Louis office9645 Clayton Road, Suite 200
Saint Louis, MO 63124
Saint Louis, MO 63124
Rick Sullivan314.973.3420
Kurt Hunter314.265.0329
Kevin Limbert314.488.5555