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Calvera Partners, a California-based real estate investment firm, acquired the Grant Street Commons apartments at 515 E. Grant St. in Minneapolis, MN from ST AP LLC for $11.38 million, or about $134,000 per unit.
The eight-story, 85-unit multifamily building was built in 1984 and was 96 percent leased at the time of sale. The purchase is Calvera’s first acquisition outside of California, and the buyer plans to rebrand and reposition the property.
Ted Bickel of Colliers International represented the seller and was the sole broker on the sale.
Please see CoStar COMPS #3918579 for more information on this transaction.
