MINNEAPOLIS, March 24, 2016 – CBRE Multifamily has arranged the sale of Eagle Pointe Apartments in Hastings, Minnesota on behalf of Marcliff Eagle Pointe Apartments, LLC, an entity controlled by CAPREIT. Ted Abramson, Keith Collins, Abe Appert, and Laura Hanneman of CBRE’s Minneapolis office represented Rockville, MD based CAPREIT in the sale. The buyer is Casey Capital V, LLC.
The 66-unit apartment community at 2550 Voyaguer Parkway was constructed in 2007 in the Twin Cities suburb of Hastings, about 25 minutes from downtown St. Paul. The property features a mix of one-, two- and three-bedroom units ranging in size from 711 sq. ft. to 1,221 sq. ft. The property has maintained a high occupancy level and has little direct competition in the market due to in-unit washers and dryers, community room, fitness center, game room, and covered heated parking.
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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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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.
