MINNEAPOLIS—Calvera Partners recently acquired Grant Street Commons, an 85-unit apartment building located at 515 E. Grant St. in downtown Minneapolis' Elliot Park neighborhood. The $11.375 million deal is the first in San Francisco-based Calvera's national expansion, and a sign that Minneapolis has become one of the go-to locations for investors interested in emerging urban markets.
The city has a booming office market, and young renters, many in the tech industry, have flocked to neighborhoods adjacent to the downtown.
“Elliot Park is an emerging neighborhood in that more development is on the horizon,” Brian Milovich, managing principal at Calvera Partners, tells GlobeSt.com. “With the recent addition of US Bank Stadium, a major hospital expansion, condo towers, office buildings, and a hotel, this property is located in a location where we can be a part of this change.”
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.