Multifamily investment sales in the Twin Cities reached a record level of over $930 million in 2014, likely the highest volume ever. Several large deals occurred in Minneapolis CBD and North Loop neighborhoods, including the $109 million sale of 222 Hennepin in March 2015, setting a new record for largest sale price of an apartment project. Other major sales in 2014 were The Nic on Fifth in downtown Minneapolis for $100 million in November and Junction Flats in North Loop for $49 million.

1. Minneapolis–St. Paul
Local multifamily investment sales activity at
record levels
Chart of the week: March 30, 2015
• Multifamily investment sales volume in the Twin Cities surpassed $930 million in 2014, the highest level
in any year since 2000, and likely the largest volume all-time. Deal activity was active across the metro
area, however the most notable deals occurred in the Minneapolis CBD and North Loop neighborhood.
• Strong investment sale activity has continued into 2015 with the sale of 222 Hennepin ($109M), the
largest sales price for a multifamily project in the Twin Cities all-time.
Source: Real Capital Analytics, JLL Research. *Sale price includes 40,000 s.f. Whole Foods Market
Highlighted investment sales:
Property: 222 Hennepin
Location: North Loop
Sale date: 3/1/2015
Sale price: $109 million*
Sale price / unit: $381,119
Buyer: Weidner Apartment Homes
Seller: Ryan Companies/Excelsior
Group/Invesco RE
Property: The Nic on Fifth
Location: Minneapolis CBD
Sale date: 11/17/2014
Sale price: $100 million
Sale price / unit: $395,257
Buyer: AEW Capital
Management
Seller: The Opus Group
Property: Junction Flats
Location: North Loop
Sale date: 11/10/2014
Sale price: $49 million
Sale price / unit: $269,231
Buyer: Greystar Real Estate partners
Seller: Trammell Crow/Carlyle Group