Multifamily news in Luxury Housing - Minneapolis-St. Paul
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Mortenson Opens Luxury Minneapolis Property
The 283-unit community Rafter was designed by Cuningham Group and features local art and neighborhood inspiration.
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BlackRock Sells Minneapolis Luxury Community
JLL represented the seller in its disposition of Eitel Apartments, the redevelopment of a historic building part of the old Eitel Hospital.
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Minneapolis’ Tallest Luxury Condo Tower Breaks Ground
Setting a record for the state, the 41-story high-rise has received nearly $190 million in financing from Related Fund Management and Bank OZK.
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Timberland Partners JV Open 243-Unit Community in Minneapolis
The development is part of the company’s Green Fourth project, which aims to reduce pollution. G4 includes 66 affordable units.
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LMC Breaks Ground on 445-Unit Minneapolis Property
The property on First Avenue will include 8,000 square feet of retail and is slated for completion in the fall of 2020.
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Dekel Capital Arranges $41M Loan for MN Community
Central Park West includes a total of 199 units, of which six are affordable, according to Yardi Matrix data. The community is close to downtown Minneapolis.
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Top 10 Multifamily Completions in the Midwest in 2018
With more than 35,000 new units, multifamily development in the Midwest closed a very active 2018, on par with national trends.
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LaSalle Buys Twin Cities Communities
Clarion Partners earned approximately $68 million from the sale of the 241-unit portfolio, taking a loss compared with the seller’s acquisition cost of the assets in 2015.
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JV Breaks Ground on Minneapolis Community
The 200-unit LakeHaus project is being converted from a 1950s office building into a luxury community near Lake Calhoun.
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Dougherty Funding Lands $31M Financing
625 Development will consist of 122 apartments, two parking ramps and a 3,000-square-foot retail space. Reuter Walton Development serves as the general contractor.
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Top 10 Twin Cities Multifamily Transactions
The market’s strength has attracted a number of out-of-state investors such as TIAA, FPA Multifamily and Mapletree US Management that paid significant prices for top communities in the area.
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Dougherty Funding Closes $11M Minneapolis Refi
The property is located in the Whittier neighborhood, between uptown and downtown, and is one block from Minneapolis Institute of Art and Minneapolis College of Art and Design.
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Dougherty Closes $14M Loan for Minneapolis Asset
The company worked on behalf of the borrower, Eagan Apartment Associates LLP, to close the 12-year term loan. The community was 98.2 percent occupied as of August.
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High Street Residential Opens Foundry Lake Street
The Class A community is 54 percent leased and 45 percent occupied. Foundry on Lake Street features 5,000 square feet of indoor restaurant space.
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Opus Turns Up the Luxury in Suburban Minneapolis
The demolition of a 94,000-square-foot building formerly leased to UnitedHealth will make way for 244 high-end apartments.