METRO GROUP REAL ESTATE ARRANGES THE SALE OF THOMAS AVENUE APARTMENTS IN MINNAPOLIS Metro Group Real Estate, a locally owned investment property services firm, is pleased to announce the sale of Thomas Avenue Apartments. Thomas Apartments is a three building, 36-unit apartment property situated on three of the four corners of Golden Valley Road and Thomas Avenue North in Minneapolis, MN. Jerry Lindeen of Metro Group Real Estate had the exclusive listing and located an out-of-state private investor for the asset. The final sale price was $2,000,000 and closed on May 30th, 2018. Metro Group Real Estate represented the Seller one year prior when they purchased the property and secured a very favorable Fannie Mae mortgage, which the Buyer assumed. The property attracted a lot of interest due in part to the price per unit compared to other properties in the Twin Cities market. The property is located in an area that is seeing a good amount of revitalization with a new apartment property recently developed on Golden Valley Road and Penn Avenue North with another apartment property being proposed at the same intersection, just a few blocks east of Thomas Avenue Apartments.
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