CBRE multifamily has arranged the sale of Hinton Heights, a 249-unit apartment community in Cottage Grove, Minnesota.
The Minneapolis-based team of Abe Appert, Keith Collins, Ted Abramson and Laura Hanneman arranged the $32 million sale on behalf of its owner, Cottage Grove Investors IV Limited Partnership, LLLP, an entity related to the St. Louis Park-based Belgarde.
The buyer is Curtis Capital Group, LLC. The sale, which closed Feb. 28, works out to $128,514 a unit.
The property is located at 7750 Hinton Avenue South in Cottage Grove near 80th Street and Highway 61.
The community features amenities such as a clubhouse with community room, game room, business center, fitness center, indoor swimming pool, sauna, hot tub, sport courts (basketball, tennis, sand volleyball), outdoor lounge, picnic area, putting green, dog park and playground.
Apartment sizes range from one bedrooms to three bedrooms with an overall average of 1,081 square-feet. Hinton Heights was built from 1990 to 1995 and was 98.4 percent occupied at the time of the sale.
