CBRE has facilitated the sale of four apartment communities in the suburban Minneapolis and St. Paul area.
- Main Street Companies sold the 84-unit Riverwood Estates in Brooklyn Center to Riverwood, LLC.
- The Oxford, a 20-unit asset in St. Paul, was sold to Union Park Management by At Home Apartments, LLC.
- 42nd Avenue Apartments, LLC, sold the namesake 12-unit property in New Hope to Verburgt Holdings, LLC.
- Creekside Commons, a 54-unit property in Prior Lake, was sold by KPMG, LLP, to PRC CREEKSIDE, LLC.
Ted Abramson, Drew Rafshol, Abe Appert and Keith Collins from CBRE Minneapolis Multifamily represented the sellers in these transactions. All four of these properties show the continued interest from private capital investors. With strong debt markets and stable operations in the Twin Cities market the CBRE team received very strong bid activity.
Riverwood Estates sits along the Mississippi river in Brooklyn Center and within walking distance to the North Mississippi Regional Park Trail, across from newly built Top Golf (the Twin Cities first location), easy access to 694, Highway 100, 94 and 262 which offers direct access into Minneapolis.
The Oxford is located in the prestigious Merriam Park neighborhood of St. Paul, on the doorstep of the University of St. Thomas and the Mississippi River with immediate access to the scenic Riverwalk and greater Grand Rounds trail system.
42nd Avenue Apartments is located in the heart of New Hope and adjacent to walkable amenities including Hy-Vee, Lifetime Fitness, and the Civic Center Park.
Creekside Commons, located at 16535 Tranquility Ct SE in Prior Lake provides residents easy access to retail and recreation. Prior Lake is close to major roadways, including Highway 13, County Road 42, County Road 21, and numerous others that access the entire metropolitan area, as well as downtown Minneapolis by way of the Minnesota Valley Transit Authority.