JLL Capital Markets closed the sale of Shalimar Estates, a 48-home townhome community in Burnsville, Minnesota.
JLL represented the seller, Gaughan Companies, in the sale of the property. Shalimar Estates is part of Gaughan’s larger 800-unit Minnesota Legacy Apartment Portfolio that JLL has been marketing for sale.
Shalimar Estates is located on 5.61 acres at 13340 Parkwood Dr. in Burnsville, a south suburban city located 25 minutes from Minneapolis and St. Paul. Residents have access to the Burnsville Transit Station and Interstate 35, which provide easy access into the Twin Cities. In addition, the property is close to the Minneapolis-St. Paul Airport and the world-famous Mall of America.
The property consists of three-bedroom units located within attached three-story buildings with garages on the ground level. Individual units feature washer/dryers, large closets, patios or balconies and air conditioning.
The JLL Capital Markets Investment Sales Advisory team was led by Managing Director Josh Talberg and Senior Director Bill Mork.
