Turner Impact Buys Minneapolis Community
JLL represented the seller and procured the buyer.
Turner Impact Capital has purchased B-Side Apartments, a 147-unit community in Minneapolis. JLL Capital Markets acted on behalf of the seller, Saturday Properties, and procured the buyer.
The property came online in 2021, with the help of a $17.6 million construction loan originated by American National Bank, according to data provider Yardi Matrix.
JLL Capital Markets Managing Director Josh Talberg led the Investment Sales and Advisory team that represented the seller in this transaction.
B-Side Apartments is a six-story building with studio, one- and two-bedroom layouts, ranging from 378 to 940 square feet. Onsite amenities include a fitness center, rooftop deck with bar and grilling area, shared workspace, conference room, as well as an underground resident parking.
The property is just off Highway 55, at 3027 22nd Ave. S. Other major thoroughfares in the area include interstates 35 West and 94. B-Side Apartments is also across the road from a light rail stop, which connects the community to downtown Minneapolis, some 3.5 miles to the north. There are several restaurants and retail options within a mile of the transit-oriented property.