5 Central

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MINNEAPOLIS–5 Central, a 140-unit Class A multifamily property located in the Minneapolis suburb of Osseo, recently sold to Harbert United States Real Estate Fund VI, L.P. The sale was an off-market transaction. Developed in 2015, the property was 97% occupied at closing.

After forming a joint venture with Chicago based Magellan Investment Partners to purchase the property, the new owners plan on upgrading the lighting, unit interiors, common areas, the clubhouse and outdoor courtyard. Pinnacle will manage the property and the 5 Central name will be maintained.