CBRE Multifamily has arranged the sale of The Parkway, a 70-unit apartment community in downtown Minneapolis for $6.5 million.
Ted Abramson, Robert Lockman, Keith Collins and Laura Hanneman of CBRE’s Minneapolis office represented the seller, Parkway Property Investors, LLC.
The buyer is local owner TE Miller Development, LLC, based in Eden Prairie, Minnesota. The buyer purchased the building for $93,212 a unit.
The Parkway is located just one block from Loring Park. The building was built in 1917, and 50 percent of the apartments were upgraded before the sale.
