TSB Realty Secures Sale of MN Student Housing
- Sep 25, 2018
A joint venture between Timberline Real Estate Ventures and Heitman LLC has acquired Radius @ 15th, a 200-unit student housing community in Minneapolis. The partnership purchased the asset on behalf of a Heitman affiliate, from University Student Living and North Bay Cos. TSB Realty secured the sale. Pinnacle Campus Living will manage the property.
Built in 2015, the six-story building sits on approximately 1.7 acres at 701 15th Ave. The community offers convenient access to various shopping, dining and entertainment venues including Varsity Theater, McDonald’s, Baseline Tennis Center, Van Cleve Park and Siebert Field. Radius @ 15th features common-area amenities such as:
- fitness center
- business center
- laundry facilities
- study rooms
- tech lab
- bicycle racks
- hot tub
- barbecue grills
Serving the University of Minnesota, the 772-bed property features a mix of one-, two-, three- and four-bedroom units ranging from 486 to 1,281 square feet. In-unit amenities include washer/dryer, Wi-Fi, flat screen TV, wood flooring and stainless steel appliances.
“Radius @ 15th provides residents top-of-the-market community and in-unit amenities,” Austin Repetto, principals of TSB Realty, said in a prepared statement. “And the property is located across the street from the on-campus University of Minnesota athletic facilities.”
Back in May, TSB Realty arranged the sale of Twenty 91 North, a 192-unit student housing community in Amherst, N.Y.
Image courtesy of Yardi Matrix