Multifamily Midwest

CBRE assists in sale of Eagle Pointe Apartments in Hastings, Minnesota

Eagle-Pointe

CBRE has arranged the sale of Eagle Pointe Apartments in Hastings, Minnesota, on behalf of Marcliff Eagle Pointe Apartments, LLC, an entity controlled by CAPREIT.

CBRE has arranged the sale of Eagle Pointe Apartments in Hastings, Minnesota, on behalf of Marcliff Eagle Pointe Apartments, LLC, an entity controlled by CAPREIT.

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.

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.