Weidner Keen on Minneapolis Multifamily
- Aug 20, 2015
By Ioana Neamt, Associate Editor
A Washington-based real estate company is investing in the North Star State.
Kirkland, Wash.-based Weidner Apartment Homes recently acquired an office building occupied by the Minnesota AIDS Project at 1400 Park Avenue South in Minneapolis for an undisclosed price. Weidner Investment Services has also selected Hunt Development to build a 260-unit market-rate apartment building on the property
The 1.7-acre property will be renamed Weidner Elliot Park, according to data from Yardi Matrix. The six-story development is expected to include amenities such as private balconies or patios, above-standard ceiling height and high-speed internet access.
According to Mike Cassidy, chair of the Minnesota AIDS Project’s board of directors, the transaction marks an important step for the 32-year-old non-profit agency.
“Under an agreement with Weidner Investment Services, we will be able to stay in our current offices while we are in the process of identifying and securing a new headquarters facility that will be more accessible and allow us to serve our clients more efficiently,” Cassidy said in a statement.
Cushman & Wakefield/NorthMarq of Minneapolis arranged the transaction.