Minneapolis – August 23, 2016 – CBRE Multifamily announced today it has arranged the sale of a 15-unit vintage brownstone apartment building in the Linden Hills area of Minneapolis.
The Minneapolis-based team of Ted Abramson and Robert Lockman arranged the sale on behalf of its owner, Hennepin Properties LLP. The property is located at 2716 West 44th Street in Minneapolis two blocks from Lake Harriet in the highly desirable Linden Hills neighborhood. The area is popular with renters due to its proximity to the Chain of Lakes area and the city’s best restaurants and cafes.
The 15-unit building was built in 1931 and features all one-bedroom units and an Art Deco exterior. Some of the units in the well-maintained building have been updated and renovated by the seller. The sale, which closed Tuesday, works out to more than $161,000 per unit.
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 (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
