Metro Group Real Estate and CPM Companies are pleased to announce the sale of Twin Place Apartments in Minneapolis, MN.
Jerry Lindeen of Metro Group Real Estate and Daniel Oberpriller of CPM Companies had the exclusive co-listing to market the property on behalf of the Seller, a private investor. The Buyer, a private local investor, was secured by Mr. Lindeen. This is the second time Mr. Lindeen and Mr. Oberpriller have been involved in the sale of Twin Place Apartments since the Seller purchased the property in December 2014. At the time of that sale in 2014, Mr. Lindeen represented the Seller and Mr. Oberpriller represented the Buyer, the current Seller. CPM Companies has been managing the property on behalf of the Seller since its acquisition and has been investing in property improvements while increasing its gross potential income.
Speaking with Mr. Lindeen, the property consists of two buildings with 58 one bedroom apartment units and an extra land parcel located on the 2300 block of 16th and 17th Avenue South in the Ventura Village neighborhood, near the Franklin Avenue Light Rail Station, of Minneapolis. The final sale price of the property was $3,701,500 and closed on April 27th, 2017.
