Multifamily news in Minneapolis-St. Paul
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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.
29 August 2018 13:43 -
Nonprofit Breaks Ground on MN Affordable Housing
Developed by Aeon, The Louis will add 70 units near the Prospect Park neighborhood. A quarter of the apartments will serve residents earning 30 percent of the area’s median income.
20 August 2018 16:06 -
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.
20 July 2018 13:04 -
MN 55+ Community Sells Above the Listing Price
Lynn Court Apartments in Savage received offers from investors from seven different states, which is believed to be representative for the state of the area's multifamily market.
05 July 2018 16:30 -
Dougherty Closes Acquisition Loan for Minneapolis Asset
The company worked on behalf of the borrower to secure the 35-year term HID 223(f) acquisition and rehabilitation loan. The borrower will invest $34,000 per unit in upgrades.
02 July 2018 16:17 -
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.
27 June 2018 16:00 -
Aeon Acquires MN Affordable Community
The purchase of the 118 apartment homes in Little Canada was a joint venture which also included the NOAH Impact Fund of Greater Minnesota Housing Fund.
19 June 2018 18:15 -
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.
05 June 2018 10:23 -
Robust Demand Keeps Occupancy Up in the Twin Cities
The metro’s multifamily market is an investor magnet, boosted by the presence of Fortune 500 companies and a strong education system, which continue to attract new residents to the region.
29 May 2018 13:26 -
Marcus & Millichap Arranges Sale of Uptown Minneapolis Asset
Colfax Avenue traded for $1.4 million. GLT Partners’ Mox Gunderson, Dan Linnell, Josh Talberg and Abe Roberts acted on behalf of the seller and also secured the buyer.
23 May 2018 12:24 -
St. Paul Community Attracts High Investor Competition
Marcus & Millichap arranged the sale of Priscilla Street Villas, an 11-unit apartment building in Saint Paul, Minn. The property was sold for an amount above the asking price.
17 May 2018 10:11 -
Timberland Breaks Ground on MN Asset
The 222-unit Elevate at SouthWest Station Apartments, located in the Twin Cities suburbs, is scheduled for completion by August 2019.
17 May 2018 09:32 -
Dougherty Lines Up HUD Financing for Minneapolis Community
Working on behalf of Albright LP, the company has arranged an $8.5 million loan for the rehabilitation of Albright Townhomes, an 89-unit affordable housing property.
11 May 2018 15:42 -
Affordable MN Property Lands $6M Construction Loan
Dougherty Mortgage facilitated the HUD loan for the planned Thomas Avenue Flats in St. Paul. The community is expected to open in spring 2019.
10 May 2018 14:55 -
Praedium Group Snags Minneapolis Community
Maverick North Loop Apartments comprises 168 units across two buildings and 5,095 square feet of ground-floor retail, half of which is currently leased to Starbucks.
10 April 2018 14:20