By Colliers International | Minneapolis-St.Paul
December 19, 2017
Colliers International | Minneapolis-St. Paul Investment Services Team negotiates sale of value-add apartment complex in Shakopee
The sale of White Pines Apartments represents a growing interest in Twin Cities, outer-ring, suburban acquisitions from national institutional investors
Monday, December 19th, 2017 – The Investment Services Team at Colliers International | Minneapolis-St. Paul represented At Home Apartments in the sale of White Pines Apartments located at 1324 Eagle Creek Blvd, in Shakopee, Minnesota. White Pines Apartments was sold to New York-based Abacus Capital Group for $14,500,000. The property, totaling 123 units, was 100% leased upon closing.
Ted Bickel, Senior Vice President at Colliers International | Minneapolis-St. Paul says of the sale, “It illustrates the strength of the Minneapolis-St. Paul metro market as a whole and particularly the increasing national investor appetite for outer ring suburban opportunities, which is a relatively new phenomena.”
The Colliers International | Minneapolis-St. Paul Investment Services Team of Senior Vice President Ted Bickel, Vice President Jeff Budish and Associate Brady DeVore represented At Home Apartments in this transaction.
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