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HFF Secures Financing for 194-Unit Student Housing Project

HFF Secures Financing for 194-Unit Student Housing Project

Holliday Fenoglio Fowler recently announced it has arranged construction financing along with joint venture equity for the development of Metro Park East, a 194-unit student housing project at the University of Minnesota – Twin Cities in Minneapolis.…

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Campbell Mithun Considers Move from Namesake Tower

Campbell Mithun Considers Move from Namesake Tower

After residing at the Campbell Mithun Tower in Minneapolis since 1985, Campbell Mithun could move out after the advertising agency has started looking at various real estate options in downtown Minneapolis.…

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FedEx Plans New $20M Facility in Maple Grove; Life Time Fitness Extends Lease at Target Center

FedEx Plans New $20M Facility in Maple Grove; Life Time Fitness Extends Lease at Target Center

FedEx is planning to build a new $20 million sorting and distribution center in Maple Grove. The new 276,400-square-foot facility is expected to open in 2014 and will replace the smaller facility FedEx leases in Brooklyn Park for its SmartPost business…

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KBS REIT III Acquires 40-Story RBC Plaza for $118.1M

KBS REIT III Acquires 40-Story RBC Plaza for $118.1M

KBS Real Estate Investment Trust III recently announced the acquisition of the 678,045-square-foot RBC Plaza. The Newport Beach, Calif.-based public non-traded REIT purchased the downtown Minneapolis mixed-use office building for $118.1 million (net of closing credits).…

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KBS Closes on Acquisition of 228-Unit Eden Prairie M-U Community

KBS Closes on Acquisition of 228-Unit Eden Prairie M-U Community

Newport Beach, Calif.-based KBS Legacy Partners Apartment REIT has closed on its first acquisition in 2013: Watertower Apartments. The 228-unit mixed-use community, located in Eden Prairie, Minn., is situated close to I-494 and Highway 212 and just 16 miles southwest of downtown Minneapolis.…

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$78M Duluth Airport Terminal Opens for Passengers

$78M Duluth Airport Terminal Opens for Passengers

After more than four years in the works, a new passenger terminal at Duluth International Airport opened for public. The new state-of-the-art facility cost $78 million to build and features lots of glass and natural light.…

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Sears Plans Major Redevelopment Project at St. Paul Site

Sears Plans Major Redevelopment Project at St. Paul Site

Developers announced big plans for the site surrounding the St. Paul Sears store near the State Capitol. Redevelopment plans call for new retail, an office building as well as residential space.…

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Opus Breaks Ground on Second Downtown Minneapolis Luxury Apartment Complex

Opus Breaks Ground on Second Downtown Minneapolis Luxury Apartment Complex

By Gabriel Circiog, Associate Editor Opus Development Corp. recently announced plans to begin development and construction of a new boutique luxury residential apartment complex in downtown Minneapolis. The project, dubbed VÉLO, French for “bicycle,” will be owned by Twin Cities-based real estate investment company Sentinel Management Co.  Located at 103…

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HealthPartners Opens $36M Mental Health Building at Regions Hospital

HealthPartners Opens $36M Mental Health Building at Regions Hospital

HealthPartners recently announced the opening of a new mental health building at Regions Hospital. The new eight-story facility will replace the existing inpatient facility on its St. Paul campus.…

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LCS Enters into JV with Nine Senior Living Communities

LCS Enters into JV with Nine Senior Living Communities

Des Moines, Iowa-based LCS has entered into a joint venture with Chicago-based real estate investment firm Harrison Street Real Estate Capital that has acquired an equity position in nine senior living communities in Greater Minneapolis.…

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Opus Closes on Financing, Prepares to Break Ground on Luxury High-Rise Apartment Building

Opus Closes on Financing, Prepares to Break Ground on Luxury High-Rise Apartment Building

Opus Development Corp. recently announced it has closed on financing for a planned luxury high-rise apartment building, The Nic on Fifth. The name of the development reflects the location of the project on Nicollet Mall and Fifth Street in downtown Minneapolis.…

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Shorenstein Properties Acquires Minneapolis City Center for $202.5M

Shorenstein Properties Acquires Minneapolis City Center for $202.5M

Shorenstein Properties has closed on the acquisition of Minneapolis City Center, a 50-story mixed-use complex located in the heart of downtown Minneapolis. Shorenstein made the purchase on behalf of Shorenstein Realty Investors Ten L.P., a commingled fund formed in 2010 and with $1.2 billion of committed capital.…

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