Multifamily news in Market Rate Housing - Minneapolis-St. Paul
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JLL Arranges Development Financing for Minneapolis-Area Community
The 202,122-square-foot NOVO will feature 192 units in Richfield, Minn.
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JLL Closes Sale of 88-Unit St. Paul Community
Mox Gunderson, Dan Linnell, Josh Talberg and Adam Haydon assisted Sherman Associates in the disposition of the 1909-built, adaptive-reuse property.
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Dougherty Mortgage Closes $54M Construction Loan
The financing will be used for the development of Sundance at Settler’s Ridge, a project in Woodbury, Minn.
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IRET Expands Denver, Minneapolis Portfolios
Apart from paying $125.3 million for two communities in Colorado and Minnesota, IRET also sold its entire Topeka, Kan., portfolio for $82.8 million.
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Minneapolis-Area Community Secures $18M Refi
Working on behalf of TE Miller Development, NorthMarq arranged the Freddie Mac loan for a 114-unit property in Edina, Minn.
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Trio of Midwest Communities Commands $100M
With this acquisition, The Habitat Co. enters the Minnesota market while expanding its multifamily portfolio in Michigan to more than 2,500 units.
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New Minneapolis Community Trades for $25M
Roers Cos. sold Mezzo, a 110-unit property in the city’s Arts District. JLL originated a $16.2 million loan for the new owner.
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Berkshire Acquires Recently Completed MN Community
The Park Off Central is located less than 20 miles from Minneapolis and St. Paul. The new owner is set to rebrand the 191-unit asset.
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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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CBRE Arranges Sale of 413-Unit MN Community
The company’s Keith Collins, Abe Appert, Ted Abramson and Ike Hoffman facilitated the sale on behalf of the seller.
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Opus Breaks Ground in Downtown Minneapolis
The six-story building is the company's third residential development in downtown Minneapolis and its eighth in Minnesota. The community is expected to be delivered in 2020.
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MN Apartments Change Hands in $95M Deal
MLG Capital and SAS sold a 698-unit community in suburban Minneapolis, three years after acquiring the property for $41 million.
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Grandbridge Real Estate Closes $31M Financing for MN Property
The company’s wholly owned subsidiary funded the non-recourse loan for Borealis, a 124-unit Class A property in Minneapolis’ North Loop.
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Marcus & Millichap Brokers MN Property Sale
Evan Miller of the company’s Minneapolis office and the firm’s national group sold The Hillcrest Apartments in South St. Paul.
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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.