Minneapolis, MN – October 12, 2018 – CBRE Multifamily arranged the sale of a three-property apartment portfolio in the North Loop neighborhood of Minneapolis to an Institutional Real Estate Investment Manager.
The apartment portfolio includes three properties totaling 308 units recently constructed in the popular North Loop neighborhood: Nolo Flats, Solhavn and Soltvå
The Minneapolis-based team of Keith Collins, Abe Appert, Ted Abramson and Ike Hoffman represented the sellers, TE Miller and Solhem Companies. The sale closed October 9, 2018.
In addition to offering boutique luxury living, the apartments in the portfolio were designed to promote sustainability and energy efficiency.
“This portfolio acquisition speaks to the confidence and strong demand we are seeing in the North Loop neighborhood, Minneapolis’ hottest apartment submarket,” said Mr. Collins.
Constructed in 2012, Soltvå offers six floors of apartments over underground parking at 701 N. Second Street. The 100-unit building includes a mix of units averaging 762 square feet. The neighboring Solhavn apartments at 815 N. Second Street were constructed in 2013. The building is comprised of 137 units with an average unit size of 773 square feet. Nolo Flats at 602 N. First Street were built in 2016. The 7-story building includes 71 apartments with an average unit size of 505 square feet.
