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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
Salt Fork, Seneca Lake will be ready when health orders are lifted
dispatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dispatch.com Daily Mail and Mail on Sunday newspapers.
Salt Fork, Seneca Lake will be ready when health orders are lifted
daily-jeff.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daily-jeff.com Daily Mail and Mail on Sunday newspapers.
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.
Public charging stations are most heavily concentrated in the city’s more affluent neighborhoods, creating a chicken/egg scenario for electric car adoption
While electric vehicles are relatively uncommon in Chicago, city officials expect their popularity to grow dramatically in coming decades.
And while electric cars are registered throughout the city, they, along with the city’s charging stations, are most heavily concentrated in the city’s affluent and mostly white North Side. As of 2018, 70% of all public charging stations were located in just three community areas. By contrast, 47 of Chicago’s 77 community areas, largely on the city’s South Side and West Side, had no public charging stations at all.