CBRE arranged the sale of City Walk, a 453-unit multifamily property in Woodbury, Minnesota, to Waterton for an undisclosed amount.
CBRE’s Keith Collins, Abe Appert and Ted Abramson represented the seller in the transaction.
“The property has experienced terrific operational growth over the past year,” said Collins. “Waterton seeks to capitalize on this trend while implementing a value-add investment strategy.”
City Walk is located at 10225 City Walk Drive, proximate to the Interstates 94 and 494 interchange and provides convenient access to over 2.2 million square feet of nearby retail. Built in 2005 and expanded in 2011, the property features a mix of one- and two and three-bedroom floor plans, with an average unit size of 1,198 square feet.
Community and unit amenities include a heated garage parking, a fitness center, indoor pool and spa, golf simulator, game room, business center, clubhouse and outdoor gathering spaces.
