Minneapolis-based Senior Vice President Chris Perry and Vice President Matt Halberg of Grandbridge recently closed on two Class-A apartment properties, OX-OP and Gibson Apartments, in Minneapolis.
The sellers of the properties are development partners Curt Gunsbury and Jason Lord of Solhem Companies, and Robb Miller of TE Miller. Both properties are urban redevelopments, at OX-OP the beloved but dying Grumpy’s bar and Gibson a used car dealership. The sellers completed construction, opened successfully and stabilized the occupancy of the buildings at the height of pandemic uncertainty.
The buyer is international real estate firm, Hines. The firm’s Minneapolis office tapped into a pre-existing long-term relationship with the local Grandbridge Minneapolis office to identify high-quality, class-A acquisition targets developed and owned by Grandbridge’s existing capital markets clients.
