Kayne Anderson Real Estate and Alatus have closed the sale of The Berkman, a 350-unit Class-A multifamily community in Rochester, Minnesota, to CBRE Investment Management.
Located at 217 14th Ave. S.W., The Berkman sits across the stret from the Mayo Clinic’s Saint Marys Campus, the nation’s largest intensive-care unit. It is also less than one mile from the Mayo Clinic’s downtown campus.
The Berkman offers studio, one-, two- and three-bedroom units along with six walk-up townhomes. Units feature 9-foot ceilings, oversized windows, stainless-steel appliances, quartz countertops and full-size washers and dryers.
Community amenities include a rooftop entertainment lounge, rooftop pet lawn and spa, an outdoor pool with a sundeck, club room, sports suite with golf simulator, library, fireplace-equipped TV lounge and a fitness center. The property also includes 23,494 square feet of commercial space.
JLL Capital Markets represented the sellers. The company’s sales and advisory team was led by managing directors Mox Gunderson, Josh Talberg and Dan Linnell; senior director Adam Haydon; executive managing directors Matthew Lawton and Jon Geanakos; and senior managing director Jim Curtin.