JLL Capital Markets closed the sale of Oakmont Apartments, a 48-unit multi-housing community in Coon Rapids, Minnesota.
On behalf of Gaughan Companies, JLL facilitated the sale of Oakmont as part of Gaughan’s larger Minnesota Legacy Apartment Portfolio, consisting of nearly 800 units. The property was purchased by a local high-net-worth private investor.
The 1974-built Oakmont Apartments is located at 11610 Tulip St. NW in the Twin Cities northwest suburbs, on the border of Anoka and Coon Rapids. The asset is situated within blocks of the Mississippi River, Anoka Community College and Allina Health Mercy Hospital, one of the state’s most prestigious medical institutions. The property features spacious studio, one-bedroom and two-bedroom units, as well as several common-area amenities, such as an on-site laundry facility, garage parking and access to the neighboring 15-acre Pheasant Ridge Park.
The JLL Capital Markets Investment Sales Advisory team was led by Managing Director Josh Talberg and Senior Director Bill Mork.
