Minneapolis, MN – March 6, 2018 – CBRE Multifamily has arranged the sale of the Ellipse and e2, a pair of apartments totaling 190 units in St. Louis Park, to Chicago-based investment firm Mesirow Financial.
Keith Collins, Abe Appert, Ted Abramson and Ike Hoffman in CBRE’s Minneapolis office represented the seller, Bader Development. The sale closed February 28.
The Ellipse, completed in 2010, is comprised of 132 units at 3920 Excelsior Boulevard. Immediately adjacent at 3924 Excelsior Boulevard is e2, a 58-unit building completed in 2014. Both properties offer five stories of apartments over a heated underground parking garage. The Ellipse also includes 15,762 square feet of commercial space currently occupied by Mill Valley Kitchen, Honey Nails, Partners in Pediatrics/Children’s MN and Viverant Physical Therapy.
Ellipse and e2 offer combined community amenities including two rooftop decks, two fitness centers, two outdoor living areas, a group fitness studio with on-demand classes, a club room and a state-of-the-art secure resident package system.
“We’re excited to be involved in the future of The Ellipse and e2. The amenities, proximity to retail and services, and unparalleled location make these properties ideal for residents in Uptown Minneapolis and St. Louis Park,” said Alasdair Cripps, Chief Executive Officer and Co-Chief Investment Officer of Mesirow Financial’s Direct Real Estate business.
