Minneapolis-St Paul
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.
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.
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.
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.
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.
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.
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.
Marcus & Millichap Brokers Sale of MN Asset
Led by Michael Glass, regional manager of the firm’s Minneapolis office, Evan Miller, Mox Gunderson, Dan Linnell and Josh Talberg of GLT Partners completed the $2.8 million transaction.
CAPREIT Sells 112-Unit Minneapolis Community
Built in 2005, the 112-unit Minneapolis Grand comprises two four-story buildings featuring a club room, a fitness center and 130 parking spaces.
Dougherty Closes Fannie Mae Loan for Twin Cities-Area Community
The mortgage banking firm facilitated a $7.3 million loan to refinance Green Twig Villas, a 62-unit affordable housing property in Oak Park Heights, Minn.