Story Highlights
- LouMin Holdings bought the Springwell Village residential community in St. Charles.
- The 57-home property features single-family houses and townhomes near Interstate 70.
- Capital Eleven Management took over day-to-day operations for the site.
A real estate investment firm has acquired a 57-home residential community in St. Charles County, with plans to upgrade operations and expand its portfolio of rental housing.
LouMin Holdings, a multifamily real estate investment firm co-founded in 2024 by real estate developer Tom Kaiman and Brad Swenson, said it has acquired Springwell Village, a 57-home rental community at 150 Wellspring Drive in St. Charles. The deal to buy the community closed Jan. 29 for an undisclosed price, a spokeswoman said.
The community, made up of single-family houses and townhomes, is designed for residents who want more room than a traditional apartment provides, while still benefiting from professional property management. Units offer two- and three-bedroom layouts with attached or detached garages, with some homes featuring basements, according to a news release. The property is located just off Interstate 70.
“We’re seeing more families and professionals looking for housing that sits between apartment living and homeownership,” Swenson said in a statement. He serves as president of the company.
This is the second local apartment complex acquired by LouMin, which has the goal of acquiring multifamily complexes across the Midwest, according to its website. The firm last year purchased The Sullivan, a 145-unit apartment complex in Lake Saint Louis, for $29.88 million, St. Charles County records show. It had been developed by Kaiman’s apartment development firm, Mia Rose Holdings, and partner Midas Capital. LouMin’s third acquisition is DECO, a five-story mixed-use residential building in downtown Shakopee, Minnesota.
The community includes amenities such as a walking trail, covered pavilion with a barbecue area and pet-friendly outdoor spaces. Rents listed on leasing sites range from $2,025 a month to $2,525.
The new owner said the acquisition reflects ongoing reinvestment in existing housing stock in St. Charles County, where demand continues to rise for flexible rental options that offer more space without the financial commitment of buying a home. LouMin Holdings said it plans to pursue additional acquisitions of similar communities across the Midwest.
For day-to-day operations, LouMin has tapped Capital Eleven Management, a property management company co-founded in May 2025 by Julie Sanford, who is a principal and executive in some of Kaiman’s other companies, business investor Otter & Co. and Mia Rose Holdings. Sanford serves as president of Capital Eleven Management.
Kaiman, a former professional hockey player turned real estate developer, has founded a series of companies based on his real estate development experience with Mia Rose Holdings, which he founded in 2014. Kaiman and his partner at Mia Rose, Jim Cook, in 2024 founded Otter & Co. Capital Holdings, through which they acquire and invest in small- to medium-size Midwestern businesses that are operating successfully, but can be helped to increase profits. Otter & Co. has acquired Chesterfield-based Keystone Construction, St. Louis-based plant-based frozen foods maker Rootberry, Nebraska blockchain bank Telcoin, drone technology startup Peregrine and St. Louis marketing agency Maverick.
