Colliers‘ Minneapolis-St. Paul Capital Markets team of Mox Gunderson, Dan Linnell, Adam Haydon, and Devon Dvorak recently represented Laramar Group in the sale of a 424-unit multifamily portfolio in the Loring Park neighborhood in downtown Minneapolis.
Grove Estates purchased the two-building portfolio, located at 215 and 330 Oak Grove St., for $32.465 million.Â
The properties, which boast a mix of newly renovated one- and two-bedroom apartments, feature updated kitchens, and wood plank flooring and also offer a host of modern amenities including a patio with grill and garden, a resident lounge, a fitness center, a 24-hour laundry room, garage parking, a package room, and controlled access. Both properties are conveniently located near public transportation, making them attractive to urban dwellers seeking connectivity and convenience. They are 89% and 83% occupied respectively.
