Multifamily Midwest

Berkadia closes $10 million for two Minnesota apartment properties

Sun-Place
un Place

The buyer was Golden Sun Preservation, LLC, an entity controlled by the Minneapolis-based non-profit group AEON. The properties were 100 percent occupied at the time of sale.

Berkadia announced the $10 million combined sale of two multifamily properties in Minnesota, Goldenstar Apartments and Sun Place Apartments.

The buyer was Golden Sun Preservation, LLC, an entity controlled by the Minneapolis-based non-profit group AEON. The properties were 100 percent occupied at the time of sale.

Goldenstar Apartments, located at 321 Larpenteur Ave. E. in Maplewood, includes 109 units and offers one- and two-bedroom floor plans ranging from 670 to 910 square feet. They feature air conditioning, ceiling fans, private garages and spacious closets. Community amenities include a playground, on-site management with 24-hour emergency maintenance, an outdoor pool with sundeck and a private courtyard.

The 30-unit Sun Place Apartments located at 1721 Marion St. in Roseville, includes two expansive floor plans with one-and two-bedroom units ranging from 715 to 850 square feet. Units feature private garages, walk-in closets, lighted ceiling fans, air conditioning and window treatments. The property includes a barbecue area, on-site management and 24-hour emergency maintenance.

Both properties are centrally located in the acclaimed Roseville school district, and have access to public transportation and Interstate 35 to visit downtown Minneapolis.

Senior Director David Gaines and Associate Director William Ryan of the Chicago office facilitated the transaction.