Leasing - Minneapolis-St. Paul
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Chicago-based REIT Acquires 235-Bed Student Housing Property in St. Paul
By Gabriel Circiog, Associate Editor Chicago-based real estate investment firm Harrison Street Real Estate Capital has closed on a 235-bed student housing property dubbed Stadium Village Flats, the Minneapolis / St. Paul Business Journal reports. Situated at the University of Minnesota in St. Paul, the Stadium Village Flats were sold by the Opus Group. The [...]
24 September 2012 03:28 -
Normandale Lake Office Park Sells for $268M
By Gabriel Circiog, Associate Editor The Normandale Lake Office Park, a five-building complex located in Bloomington, was acquired by an affiliate of Chicago-based Equity Group Investments. Situated on 23 acres of land at the southwest corner of I-494 and Highway 100 in the Southwest suburb of Bloomington, the 1.7 million-square-foot Class A office complex features [...]
10 September 2012 20:11 -
Dominium Sells Newport on Seven Apartments
By Gabriel Circiog, Associate Editor Dominium, a real estate development and management company headquartered in Plymouth, Minn., announced the sale of Newport on Seven apartments. Located in St. Louis Park, Minn., the property was acquired for $22.7 million by Charleston, S.C.-based Greystar Real Estate Partners, according to Keith Collins, a broker at CBRE Group, who [...]
19 July 2012 04:20 -
American Campus Communities Acquires 480-Bed University of Commons
By Gabriel Circiog, Associate Editor Austin-based American Campus Communities Inc. has closed on the purchase of University Commons for $31 million. The 480-bed off-campus community, located in the East Bank area in Minneapolis, serves students attending the University of Minnesota. The student housing property, just three blocks away from the UMN campus, was built in [...]
09 July 2012 04:16 -
Opus to Build New Office Building for Xcel Energy at Nicollet Mall
By Gabriel Circiog, Associate Editor The Opus Development Corporation has announced plans to build a 212,000-square-foot office building in downtown Minneapolis. The nine-story building will be built for Xcel Energy on the southeast corner of Fourth Street and the Nicollet Mall. The site is currently a private parking ramp which was built in the 1960s. [...]
25 June 2012 19:32 -
Stone Grove Apartments Sold for $17.3 Million; Piper Jaffray Signs New Lease
By Gabriel Circiog, Associate Editor Franktown, Colo.-based Monarch Investment and Management Group has acquired The Stone Grove Apartments in Burnsville, the Minneapolis / St. Paul Business Journal reports. According to Dakota County property records, the 228-unit apartment building was sold by St. Paul-based Real Estate Equities for $17.3 million. The seller was represented by Everest [...]
15 June 2012 04:58 -
StuartCo, Simon Property Group Plan Residential Development at Southdale Center
By Gabriel Circiog, Associate Editor Bloomington-based StuartCo has reached an agreement with Simon Property Group, the owner of Southdale Center, to develop a 232-unit apartment project on an underused piece of land at the shopping center in Edina. The Minneapolis / St. Paul Business Journal reports that StuartCo presented the plan and submitted sketches of [...]
03 June 2012 06:07 -
Zeller Realty Secures Refinancing for LaSalle Plaza
By Gabriel Circiog, Associate Editor Chicago-based Zeller Realty has secured refinancing for LaSalle Plaza from a unit of Minneapolis-based U.S. Bancorp, U.S. Bank Commercial Real Estate. While terms of the deal were not disclosed, the Minneapolis / St. Paul Business Journal reports the loan is estimated to be worth around $92 million. Located at 800 [...]
29 May 2012 05:24 -
Dominium Closes in on Approval for Pillsbury A Mill Conversion
By Gabriel Circiog, Associate Editor Plymouth-based Dominium Inc. is inching closer to the end of a lengthy approval process for a $100 million conversion of the historic Pillsbury A Mill complex into affordable housing for artists, the StarTribune reports. The Ways and Means Committee of the Minneapolis City Council is set to review the project [...]
13 May 2012 17:59 -
Real Estate Recycling Plans Green Office Project in Downtown Minneapolis
By Gabriel Circiog, Associate Editor Minneapolis developer Paul Hyde, a principal with Real Estate Recycling, plans to construct a two-story office building at 1016 Marquette Ave., the Minneapolis / St. Paul Business Journal reports. Real Estate Recycling acquired the existing 1931 single-story building from local developer Larry Abdo on April 2 for $825,000. The design [...]
23 April 2012 04:01 -
Inland Real Estate Expands Portfolio
By Gabriel Circiog, Associate Editor Inland Real Estate Corp. announced the acquisition of two retail properties in the Minneapolis market. IRC, through a joint venture with PGGM, bought Silver Lake Village, a grocery-anchored community center situated in the dense urban inner-tier suburb of St. Anthony. The center has a total of 159,303 square feet of [...]
05 March 2012 15:18 -
Ryan Cos. Breaks Ground on Luxury Mixed-Use Project
By Gabriel Circiog, Associate Editor Ryan Cos. US Inc. broke ground on the 222 Hennepin mixed-use project, in partnership with The Excelsior Group and an institutional client of Invesco Real Estate. The development will feature 286 luxury apartments (232,112 square feet); a 491-space, four-level parking garage; and the first Whole Foods Market in downtown Minneapolis. [...]
20 February 2012 05:34 -
W.P. Carey Closes on BCBS Portfolio Sale-Leaseback
By Gabriel Circiog, Associate Editor Blue Cross and Blue Shield of Minnesota has sold its six-building headquarters campus in Eagan to investment firm W.P. Carey & Co. The New York-based investment management company announced closing on sale-leaseback financing with the entity through CPA:17 – Global, a publicly held non-traded REIT affiliate. The transaction also included [...]
14 February 2012 06:44