$54M Price Tag for Minneapolis Apartments
CBRE has arranged the sale of a 218-unit multifamily community.
By Ioana Neamt, Associate Editor
Minneapolis—CBRE’s Multifamily Group recently announced the sale of 7West Apartments in downtown Minneapolis to Weidner Apartment Homes of Kirkland, Wash. Weidner cashed out $54.5 million to acquire the asset from Eden Prairie, Minn.-based Grandma’s Associates LLC. Keith Collins, Abe Appert and Laura Hanneman of CBRE’s Minneapolis office represented the seller in the transaction.
Located at 1800 S. Washington Ave. adjacent to the Courtyard by Marriott Hotel in downtown Minneapolis, 7West incorporates 218 studio, one- and two-bedroom apartment units ranging from 416 to 851 square feet. The LEED Gold certified community, completed in 2014, offers residents a plethora of amenities, including a rooftop terrace; private courtyard; fitness and yoga studios; work and study areas; community room; billiards room; lounge area; and underground parking. All units feature washers and dryers, stainless steel kitchen appliances and granite countertops.
7West Apartments offers easy access to the I-35W, bike trails and the Green Line light rail. The community is also conveniently situated in close proximity to the new US Bank Stadium, Downtown East, and the University of Minnesota’s West Bank and East Bank campuses.
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