Finance & Investment - Minneapolis-St. Paul

After Half a Century, Vintage Property Gets New Owner
A 54-unit apartment building near Lake Calhoun has changed hands for $9 million.
Condo
City to Build 100 Green Homes in North Minneapolis
Mayor R.T. Rybak and the City of Minneapolis are spearheading a project dubbed as the Green Homes North Initiative. The plan, scheduled to start this summer, calls for the construction of 100 green or energy efficient homes throughout north Minneapolis on City-owned vacant lots.
Finance & Investment
Minneapolis City Council Green-Lights Value Capture District for Nicollet-Central Streetcar Line
Initial approval has been given by the Minneapolis City Council to redirect up to $60 million in property taxes to help pay for a streetcar line which would run along Nicollet and Central Avenues.
Finance & Investment

  • Rosemount Selects Vacant ADC 2 Building in Shakopee for Engineering and Manufacturing Plant

    After announcing its interest in the 60-acre ADC site in Shapokee last year, Rosemount Inc., a division of Emerson Process Management, has now announced that it has selected the vacant ADC 2 building as the home of its new engineering and manufacturing plant.

    17 June 2013 04:29

  • 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.

    15 April 2013 05:51

  • Hines Breaks Ground on New For-Rent Multifamily Complex

    By Gabriel Circiog, Associate Editor Houston-based developer Hines has broken ground on the Dock Street residences, a new for-rent multifamily complex in the North Loop neighborhood of Minneapolis, close to Target Field, home of the Minnesota Twins pro baseball team. Developed by Hines and financed by the AFL-CIO Building Investment Trust, the six-story complex will [...]

    29 September 2012 05:50

  • Chicago-based REIT Acquires 235-Bed Student Housing Property in St. Paul

    By Gabriel Circiog, Associate Editor Chicago-based real estate investment firm Harrison Street Real Estate Capital has closed on a 235-bed student housing property dubbed Stadium Village Flats, the Minneapolis / St. Paul Business Journal reports. Situated at the University of Minnesota in St. Paul, the Stadium Village Flats were sold by the Opus Group. The [...]

    24 September 2012 03:28

  • Normandale Lake Office Park Sells for $268M

    By Gabriel Circiog, Associate Editor The Normandale Lake Office Park, a five-building complex located in Bloomington, was acquired by an affiliate of Chicago-based Equity Group Investments. Situated on 23 acres of land at the southwest corner of I-494 and Highway 100 in the Southwest suburb of Bloomington, the 1.7 million-square-foot Class A office complex features [...]

    10 September 2012 20:11

  • Dominium Sells Newport on Seven Apartments

    By Gabriel Circiog, Associate Editor Dominium, a real estate development and management company headquartered in Plymouth, Minn., announced the sale of Newport on Seven apartments. Located in St. Louis Park, Minn., the property was acquired for $22.7 million by Charleston, S.C.-based Greystar Real Estate Partners, according to Keith Collins, a broker at CBRE Group, who [...]

    19 July 2012 04:20

  • American Campus Communities Acquires 480-Bed University of Commons

    By Gabriel Circiog, Associate Editor Austin-based American Campus Communities Inc. has closed on the purchase of University Commons for $31 million. The 480-bed off-campus community, located in the East Bank area in Minneapolis, serves students attending the University of Minnesota. The student housing property, just three blocks away from the UMN campus, was built in [...]

    09 July 2012 04:16

  • Opus to Build New Office Building for Xcel Energy at Nicollet Mall

    By Gabriel Circiog, Associate Editor The Opus Development Corporation has announced plans to build a 212,000-square-foot office building in downtown Minneapolis. The nine-story building will be built for Xcel Energy on the southeast corner of Fourth Street and the Nicollet Mall. The site is currently a private parking ramp which was built in the 1960s. [...]

    25 June 2012 19:32

  • Zeller Realty Secures Refinancing for LaSalle Plaza

    By Gabriel Circiog, Associate Editor Chicago-based Zeller Realty has secured refinancing for LaSalle Plaza from a unit of Minneapolis-based U.S. Bancorp, U.S. Bank Commercial Real Estate. While terms of the deal were not disclosed, the Minneapolis / St. Paul Business Journal reports the loan is estimated to be worth around $92 million. Located at 800 [...]

    29 May 2012 05:24

  • Real Estate Recycling Plans Green Office Project in Downtown Minneapolis

    By Gabriel Circiog, Associate Editor Minneapolis developer Paul Hyde, a principal with Real Estate Recycling, plans to construct a two-story office building at 1016 Marquette Ave., the Minneapolis / St. Paul Business Journal reports. Real Estate Recycling acquired the existing 1931 single-story building from local developer Larry Abdo on April 2 for $825,000. The design [...]

    23 April 2012 04:01

  • Paragon Plans 400,000-Square-Foot Outlet Shopping Center in Cedar Grove

    By Gabriel Circiog, Associate Editor Paragon Outlet Partners L.L.C. has presented to the Eagan Economic Development Authority a preliminary concept plan for a new upscale outlet shopping center in Cedar Grove. The Baltimore-based developer proposes a project that would feature between 90 and 100 high-end outlet stores on approximately 35 acres of land. With more [...]

    10 April 2012 05:14

  • Vikings Stadium Plan Receives Majority Support from City Council

    By Gabriel Circiog, Associate Editor The latest Minnesota Vikings stadium plan is now backed by a majority of the Minneapolis city council, the Minneapolis / St. Paul Business Journal reports. The development was announced by Gov. Mark Dayton; Minneapolis Mayor R.T. Rybak, City Council President Barb Johnson and six other council members posted online letters [...]

    03 April 2012 07:46

  • Shakopee City Council Approves Economic Development Incentives

    By Gabriel Circiog, Associate Editor Shakopee City is set to welcome two new companies that will bring hundreds of jobs to town after the city council approved economic development incentives for SanMar Corp. and Trystar Inc., the Minneapolis / St. Paul Business Journal reports. SanMar Corp., an imprintable-clothing supplier, will invest $35 million to build [...]

    20 March 2012 13:02

  • Inland Real Estate Expands Portfolio

    By Gabriel Circiog, Associate Editor Inland Real Estate Corp. announced the acquisition of two retail properties in the Minneapolis market. IRC, through a joint venture with PGGM, bought Silver Lake Village, a grocery-anchored community center situated in the dense urban inner-tier suburb of St. Anthony. The center has a total of 159,303 square feet of [...]

    05 March 2012 15:18

  • W.P. Carey Closes on BCBS Portfolio Sale-Leaseback

    By Gabriel Circiog, Associate Editor Blue Cross and Blue Shield of Minnesota has sold its six-building headquarters campus in Eagan to investment firm W.P. Carey & Co. The New York-based investment management company announced closing on sale-leaseback financing with the entity through CPA:17 – Global, a publicly held non-traded REIT affiliate. The transaction also included [...]

    14 February 2012 06:44