Saturday, December 21, 2024
Read the Digital Magazines Subscribe to the Newsletter

Minnesota

Southdale Parc Apartments and Wingate Apartments near Minneapolis
Investment SalesMidwestMinnesotaNews

JLL Capital Markets Arranges Sale of Two Communities Near Minneapolis

by Channing Hamilton

RICHFIELD AND NEW HOPE, MINN. — JLL Capital Markets has arranged the sale of two communities in the Minneapolis metropolitan area, including Southdale Parc Apartments in Richfield and Wingate Apartments in New Hope. Centerspace was the seller. JLL worked on behalf of the seller and procured the buyers, both local private investors. Southdale Parc Apartments was built in 1962. The property comprises 69 one-bedroom units and offers amenities such as laundry facilities, smart package lockers, green spaces and on-site parking. Built in 1967, Wingate Apartments offers 136 apartments. Units come in …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentMidwestMinnesotaNews

Kraus-Anderson Completes $34.9 Million Conversion Project in Duluth, Minnesota

by Channing Hamilton

DULUTH, MINN. — Kraus-Anderson Duluth has completed Zenith DCHS, a $34.9 million adaptive reuse project in downtown Duluth. The project converted the Historic Old Central High School into 122 apartments. The building was originally constructed in 1892 as Duluth Central High School and is listed on the National Register of Historic Places. The converted building was designed by AWH Architects and is owned by Saturday Properties. The four-story building offers amenities such as a fitness center, sauna, coworking space, auditorium and workshop, and also boasts the city’s landmark clock tower.

Continue Reading
0 FacebookTwitterLinkedinEmail
The Cosmopolitan Apartments in St. Paul, Minnesota
Investment SalesMidwestMinnesotaNews

JLL Brokers Sale of 258-Unit The Cosmopolitan Apartments in St. Paul, Minnesota

by Channing Hamilton

ST. PAUL, MINN. — JLL has negotiated the sale of and acquisition financing for The Cosmopolitan Apartments, a 258-unit community located in St. Paul’s historic Lowertown neighborhood. Bigos Management acquired the property from AEW Capital Management for an undisclosed price. JLL represented the seller in the deal. Will Tansey of Felhaber Larson law firm represented the buyer. The Cosmopolitan Apartments was originally constructed as the Finch, Van Slyck and McConville Dry Goods Company building in 1911. The building was converted into apartments in 1989, and has since undergone $8 million …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentMidwestMinnesotaNews

Continental Properties Opens 280-Unit Springs at McKnight Lake in Chaska, Minnesota

by Channing Hamilton

CHASKA, MINN. — Continental Properties has opened Springs at McKnight Lake, a 280-unit asset in the Minneapolis suburb of Chaska. Situated at 3 Oakridge Drive on the slopes overlooking McKnight Lake, Springs at McKnight Lake provides residents with a direct path to trails and water activities. The community offers studio, one-, two- and three-bedroom units. Amenities include a pool, clubhouse, outdoor grill area, fitness center, car care area and two dog parks.

Continue Reading
0 FacebookTwitterLinkedinEmail
Upper Post Flats in St. Paul, Minnesota
Affordable HousingDevelopmentMidwestMinnesotaNews

Dominium Completes $160 Million Affordable Housing Redevelopment in St. Paul, Minnesota

by Channing Hamilton

ST. PAUL, MINN. — Dominium has completed the final phase of Upper Post Flats, an affordable housing project that repurposed buildings at the historic Fort Snelling site in St. Paul. The complex was developed as part of a public-private partnership that included the site’s owner, the Minnesota Department of Natural Resources, the National Park Service, Hennepin County, Minneapolis Park and Recreation Board and the Minnesota Historical Society, which operated the historic fort. Minneapolis-based BKV Group served as the architect. The site comprised 26 buildings across 42 acres, including barracks, an …

Continue Reading
0 FacebookTwitterLinkedinEmail
Via Sol in St. Louis Park, Minnesota
Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers Sale of 217-Unit Via Sol in St. Louis Park, Minnesota

by Channing Hamilton

ST. LOUIS PARK, MINN. — Marcus & Millichap has brokered the sale of Via Sol, a 217-unit property in St. Louis Park. Via Sol was built in 2022 and offers amenities such as an urban art forest, rooftop terrace, fitness center, and underground parking. Bigos-Via Sol LLC acquired the asset from Place E-Generation One LLC. Abe Roberts, head of the Roberts Group of Marcus & Millichap in Minneapolis, along with IPA’s Will Balthrope and Drew Garza, represented the seller in the deal. Will Tansey of the Felhaber Larson law firm …

Continue Reading
0 FacebookTwitterLinkedinEmail
Avalon Apartments and Townhomes in Inver Grove Heights, Minnesota
DevelopmentFinanceMidwestMinnesotaNews

JLL Brokers $60.1 Million to Develop Avalon Apartments and Townhomes Near Minneapolis

by Channing Hamilton

INVER GROVE HEIGHTS, MINN. — JLL Capital Markets has arranged $60.1 million in mezzanine and construction financing for Avalon Apartments and Townhomes, a 244-unit complex in the southeast Minneapolis suburb of Inver Grove Heights. JLL worked on behalf of the borrower, Trident Development, to secure the $45 million construction loan from Alerus. Additionally, JLL sourced $15.1 million in mezzanine financing through Centerspace. Dan Linnell, Scott Loving, Josh Talberg and Mox Gunderson led the JLL Capital Markets Advisory Team. Avalon Apartments and Townhomes will offer 190 apartments and 54 townhomes. The unit …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers $7.5 Million Sale of The Commons in Inver Grove Heights, Minnesota

by Channing Hamilton

INVER GROVE HEIGHTS, MINN. — Marcus & Millichap has negotiated the $7.5 million sale of The Commons, a four-building property in the St.Paul, Minnesota suburb of Inver Grove Heights. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the undisclosed buyer and seller. The Commons was built in 1987 at 8213 College Trail. The community comprises 60 units. The property has undergone renovations for new countertops, appliances and cabinetry..

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFinanceMidwestMinnesotaNews

Lupe Development Partners, Wall Cos. Plan to Demolish Former Minneapolis Public Works Building for Affordable Housing Development

by Channing Hamilton

MINNEAPOLIS — Lupe Development Partners and Wall Cos. are planning to demolish the former Minneapolis Public Works storage building to construct Snelling Yards, a 90-unit affordable community. The project is a joint venture with Ecumen, which owns the adjacent 100-unit affordable seniors housing development, The Hillock. Lupe Development Partners and Wall Cos. were granted development rights to the property in 2017. Snelling Yards will offer three- and four-bedroom units. Of the total unit count, 26 will be reserved for residents who earn up to 30 percent of the area median …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers $5 Million Sale of Phalen Shores in St. Paul, Minnesota

by Channing Hamilton

ST. PAUL, MINN. — Marcus & Millichap has brokered the $5 million sale of Phalen Shores, a 53-unit property in St. Paul. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller and buyer, neither of which were disclosed. Phalen Shores was built in 1987. The five-story building features a fitness center, outdoor spaces and an underground heated garage.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2024 France Publications, dba France Media Inc.