Minneapolis-St Paul
Twin Cities Occupancy Rates Remain Sky-High
Favorable demographic and employment trends sustain strong multifamily demand across the metro, where rent growth continues to outperform the national average.
TSB Realty Secures Sale of MN Student Housing
The 772-bed Radius @ 15th serves students attending the University of Minnesota. Pinnacle Campus Living will manage the property.
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.
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.
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.
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.
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.
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.
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.
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.