JLL Capital Markets has closed the sale of Urbana Court, a 207-unit, multifamily community in the heart of the Twin Cities medical alley in Brooklyn Park, Minnesota.
JLL worked on behalf of the seller Trident Development, LLC, and buyer Turner Impact Capital, a leading real estate investment firm dedicated to social impact, acquiring the asset for Turner Multifamily Impact Fund II.
Completed in 2021, Urbana Court’s studio, one- and two-bedroom units feature full-size washers and dryers, stainless steel appliances, granite countertops and an average size of 877 square feet. The best-in-class community amenities include a pool and pool house, 24-hour fitness center, pickleball courts, private dog park, expansive parking and outdoor pergolas.
Situated at 5401 94th Ave N., the property is located along the rapidly growing 610 Corridor. The area is home to Target’s expansive 333-acre northern campus, Medtronic, Olympus, Tesla and many more employers. To the north of the property is the brand new 610 Surgery Center, as well as Rasmussen College, which focuses on teaching future nurses, surgical techs and physical therapists. The location also offers residents immediate access to both Minneapolis and St. Paul, in addition to the corporate headquarters of 16 Fortune 500 companies within a 45-minute drive.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Dan Linnell, Mox Gunderson, Josh Talberg and Senior Director Adam Haydon.
