Staenberg steps down from Chesterfield-based THF Realty
Michael Staenberg, president of Chesterfield-based THF Realty, announced Oct. 24 that he would be selling his stake in THF to his partner, Stan Kroenke, owner of the St. Louis Rams.
Staenberg co-founded THF in 1991 and in the past 21 years has grown the company into one of the largest privately held commercial real estate firms in the United States. It is estimated that the company is worth $2 billion dollars.
“Stan and I put agreements in place 21 years ago to acknowledge that our individual circumstances and personal goals were subject to change and that it made good business sense to establish a mechanism to allow us to separate,” Staenberg said in a statement. “The process stipulated by the agreements was intended to achieve an economically fair and orderly transition of the companies from co-ownership to sole ownership.”
In addition to his leadership role at THF, Staenberg has been a community leader taking an active role privately and professionally in organizations throughout St. Louis city and county.