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Jones Lang LaSalle Incorporated : New multi-housing community near Minneapolis sells for $59M

Message : Required fields 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

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JLL Capital Markets closes $17 million sale of multi-housing portfolio in St Paul

JLL Capital Markets closes $17 million sale of multi-housing portfolio in St Paul
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JLL Capital Markets Announces $30 Million Sale of 117-Unit Lake Jonathan Flats Luxury Apartments in Minneapolis Submarket

MINNEAPOLIS, MN - JLL Capital Markets announced today it has closed the $30 million sale for Lake Jonathan Flats, a multi-housing property totaling 117 units and located in Chaska, Minnesota, about 25 minutes southwest of Minneapolis. JLL worked on behalf of the seller, Trident Development, to complete the sale to Ridgebrook Investments. JLL also worked on behalf of Ridgebrook Investments to secure a fixed rate loan through Bridgewater Bank. The newly-constructed Lake Jonathan Flats feature studio, one- and two-bedroom floorplans with open concepts, modern kitchens, granite countertops, stainless steel appliances, custom cabinetry and private balconies. Community amenities include a fitness center, rooftop bar and coffee bar area.

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JLL Capital Markets Fetches $230,000 Per Unit for Sale of 38-Unit Regency Hill Apartments in Minneapolis-Saint Paul Metropolitan Area

JLL Capital Markets Fetches $230,000 Per Unit for Sale of 38-Unit Regency Hill Apartments in Minneapolis-Saint Paul Metropolitan Area
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Twin Cities Senior Community Trades in $19M Deal

Twin Cities Senior Community Trades in $19M Deal The newly constructed 66-unit property north of downtown Minneapolis caters to residents 55 and over. Jan292021 Image courtesy of JLL The Estates at Arbor Oaks, a 66-unit suburban Minneapolis senior property, has changed hands for $18.8 million. JLL Capital Markets facilitated the disposition of the community designated for residents 55 and over. According to public records, an entity affiliated with Peak Capital Partners picked up the newly constructed property from its original developer, Arbor Oaks LLC, linked to Trident Development. JLL also assisted the buyer in obtaining acquisition financing. The seller purchased the 12.5-acre site at 1753 156th Lane NW in Andover, Minn., in 2016 for nearly $840,000, according to Anoka County records. Located roughly 22 miles north of downtown Minneapolis, the property is in proximity of Bunker Hills Regional Park.

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