JLL Capital Markets arranged the sale of Lyra at Riverdale Station, a luxury 180-unit multifamily community in the Twin Cities’ north suburbs of Coon Rapids, Minnesota.
JLL represented the seller in the transaction and procured the buyer MLG Capital. Acquisition financing was secured by assuming the property’s existing HUD loan, which was placed and is serviced by JLL.
Lyra represents the counterpart asset to Aster, which JLL sold in December 2025. Together, these assets comprise the dual-asset master development within Coon Rapids’ desirable Riverdale Station corridor, a central hub offering rare urban-suburban walkability to retailers, restaurant and grocery, plus strong connectivity to Minneapolis, St. Paul and the broader metro. The location’s demand tailwinds and compelling supply forecast help drive investment fundamentals for these high-quality assets.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Director Josh Talberg and Director Joseph Peris.
