JLL Capital Markets has closed the $19 million sale of Woodrow Apartments, a 97-unit apartment complex in Fargo, North Dakota.
JLL marketed the property on behalf of local Fargo-based seller Kilbourne Group. Graystoke Capital Partners, based out of Boise, Idaho, acquired the asset.
The Woodrow Apartments blends a renovation of the 100-year-old, historic Woodrow Wilson School into 34 units, with a new addition featuring 63 Class-A apartments that was completed in 2017.
This adaptive re-use project features best-in-class amenities such as a multi-purpose gym (the school’s own original gym), heated underground parking, a community lounge and game room and outdoor patio with a pergola, fire pit and gas grills. The apartments feature units with central air-conditioning, an in-unit washer and dryer, quartz countertops and walk-in closets.
Situated at 1222 4th Ave. N., the property is located within downtown Fargo, which offers residents access to over 300 unique retail stores, two million square feet of office space and over eight breweries in the immediate area. Both Broadway and Roberts Alley provide walkable dining options near the community. Additionally, the complex is in close proximity to North Dakota State University, Sanford Health and Hector International Airport.