St. Paul – December 15, 2015 – CBRE announced today that it has sold the 57-unit apartment building Lofts at Farmers Market in the Lowertown area of downtown Saint Paul, Minnesota. Abe Appert, Keith Collins, Ted Abramson, and Laura Hanneman of CBRE’s Minneapolis office represented the seller, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota. Weidner Apartment Homes based in Kirkland, Washington, purchased Lofts at Farmers Market for $13,200,000. The deal closed Monday. This is Weidner’s 12th multifamily property in their Minneapolis portfolio in the past two years.
Lofts at Farmers Market was built in 2012 and is located in the burgeoning Lowertown area of downtown Saint Paul. In addition, Big River Pizza is on the first floor of the building offering wood-fired pizzas. Across the street is the Saint Paul Farmers Market and nearby is the new Saint Paul Saints stadium, Green Line access, and numerous bars and restaurants.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
