"Apartments are still the darling of investors," says the report. The report also goes on to describe a range of apartment complex sales in the last year.
Topping the list were: Calhoun Plaza, the 109-unit complex in Minneapolis, sold for $115,138 per unit; Vinings at Woodbury, a 224-unit complex in Woodbury, sold for $112,054 per unit; and Vicksburg Village, a 334-unit complex in Plymouth, sold for $100,000 per unit.
In the middle range were: Avalon at Devonshire, a 498-unit complex in Bloomington, which sold for $95,800 per unit; 15300 37th Avenue, a 160-unit complex in Plymouth, sold for $81,250 per unit; and East River Terrace, a 100-unit project in Minneapolis, sold for $65,000 per unit.
On the low end were Sibley Tower, a 183-unit complex in downtown St. Paul, which sold for $55,464 per unit; 1205 Westminster, a 64-unit project in St. Paul, sold for $53,125 per unit; and New Brighton View Apartments, a 120-unit complex in New Brighton, sold for $52,916 per unit.
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