50 Years Later, St. Paul Apartment Building Gets New Owners

The 103-unit Wheelock Parkway Apartments in St. Paul, Minn., has changed hands for the first time since the 1960s.

Chris Collins, first vice president of investments in Marcus & Millichap’s Minneapolis office, announced the sale, stating that the owner, a Minnesota limited liability company, was looking to reposition its portfolio.

Collins, Evan Miller, Eric Wagner, Matthew Shide and Zack Olson, investment specialists in Marcus & Millichap’s Minneapolis and Milwaukee offices, had the exclusive listing to market the property. The identities of the buyer and seller and the sales price were not available at press time.

Wheelock Parkway Apartments, at 1609 N. Woodbridge St., has 44 one-bedroom units and 59 two-bedroom units spread over 85,580 rentable square feet.

The property’s key amenities include an outdoor pool, laundry facilities, a playground, picnic areas and a walking/biking path bordering the property line.

The property, constructed from 1965 to 1967, is near the Como Park Zoo and Rosedale Center in the North End neighborhood of St. Paul.

Elsewhere in the Twins Cities

Last week, Turner Impact Capital purchased B-Side Apartments, a 147-unit community in Minneapolis. JLL Capital Markets procured the buyer on behalf of Saturday Properties, the seller.

According to data provider Yardi Matrix, the property came online in 2021, thanks to a $17.6 million construction loan originated by American National Bank.

JLL Capital Markets Managing Director Josh Talberg led the Investment Sales and Advisory team representing the seller in this transaction.

B-Side Apartments is a six-story building with studio, one- and two-bedroom layouts, ranging from 378 to 940 square feet.