JLL closes $59 million sale of 269-unit multifamily community in Minnesota rejournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rejournals.com Daily Mail and Mail on Sunday newspapers.
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MINNEAPOLIS, July 22, 2021 -JLL Capital Markets announced today that it has closed the $59 million sale of and arranged $44.25 million in acquisition financing for The Cielo Apartments, a 269-unit, multi-housing community in the Minneapolis suburb of Fridley, Minnesota. JLL marketed the property on behalf of the seller, Trident Development. Peak Capital Partners acquired the property. Additionally, JLL worked on behalf of the new owner to secure the seven-year loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. The Cielo Apartments comprises studio, one-, two- and three-bedroom units ranging from 586 to 1,345 square feet. The apartments feature granite or quartz countertops, modern appliances, undermount sinks and kitchen islands. The community amenities include a fitness center, game room, community room and lounges, study area and media rooms, walking paths, grilling stations