Minneapolis, AUGUST 31, 2016 – CBRE has arranged the sale of the Woodlands of Minnetonka for $44.9 million on behalf of its owner, Trilogy Real Estate Group. The buyer is Heartland Realty Investors, a Minneapolis-based investment and property management firm.
The multifamily team of Abe Appert, Keith Collins and Laura Hanneman in CBRE’s Minneapolis office represented the seller. The team has worked with Trilogy Real Estate Group since 2011, when Trilogy purchased the Woodlands.
The 252-unit apartment community is located at 10275 Greenbrier Road in Minnetonka, a premier west metro suburb due to its proximity to employment centers, retailers, recreation and high average household income and home values.
The seller recently completed $3.1 million in capital improvements to the 277,760-square-foot property including the exterior, common area amenities and unit renovations.
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.