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The combined real estate holdings of brothers Bill and Jim Koman are worth an estimated $300 million.
The Koman brothers head two of the St. Louis region's commercial real estate development firms.
In addition to heading Koman Properties, Jim Koman has started a fund that will invest up to $150 million in real estate in Walgreen & Co. nationwide. So far, ECM Income & Growth Fund LLC has either acquired or has under contract $47 million in assets. Koman, whose partner in the Chicago-based fund is St. Louis native Shelby Pruett, invested $4 million in the fund.
Bill Koman Jr., 44, heads the Koman Group, the firm founded by his father in 1981. William Koman Sr., 69, a former linebacker with the St. Louis Cardinals football team, retired in 1996. The elder Koman also is an investor in the Casino Queen in East St. Louis.
The Koman Group is best known for developing CityPlace, a 700,000-square-foot mixed-use complex in Creve Coeur. The firm has developed more than 4 million square feet of space, including corporate headquarters and retail centers.
Jim Koman, 39, started Koman Properties Inc. in 1994 after working with his father and brother at The Koman Group. Jim Koman has developed more than 2.3 million square feet of commercial space through Koman Properties and family partnerships. His firm recently was selected as the master developer for a $225 million mixed-use project in Troy, Ill.
Outside the real estate arena, the family has invested in several technology-related companies outside St. Louis, including in Indianapolis, Chicago and Los Angeles.
Copyright American City Business Journals Oct 24, 2003