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EDEN PRAIRIE, MINN. — FPA Multifamily has purchased Cascade at Town Center, a 204-unit community in Eden Prairie, 18 miles southwest of Minneapolis. The community was bult in 2001 with 18 additional apartments added in 2018. The average unit size is 1,158 square feet. Amenities include a gym, clubroom, indoor pool, courtyard and garage parking.
Josh Talberg, Joseph Peris and Mark Stern of JLL represented both the seller, a joint venture between Harbert Management and Magellan Investment Partners, and the buyer. Elliott Throne and Scott Loving of JLL originated acquisition financing through Freddie Mac.