CBRE Multifamily recently represented ownership in the sale of Wayzata Woods, an apartment community in Wayzata, Minnesota, to BLF Holdings, LLC for $16.5 million.
The Minneapolis-based team of Ted Abramson, Keith Collins and Abe Appert represented the seller, Asset Management Group. The sale closed September 26, 2018.
Located in the heart of the affluent Wayzata submarket near its historic Main Street and Lake Minnetonka, Wayzata Woods is a 101,130-square-foot rental property built in 1965 with value-add potential.
The property at 240 North Central Ave. N. includes 107 apartment units (comprised of 45 one-bedroom, 56 two-bedroom and six three-bedroom units) with an average unit size of 945 square feet. The community is situated on five acres and includes an outdoor pool.