SOLD
Minneapolis College Of Art And Design Acquires Mixed-use Building In Minneapolis For $16.4M
113 26th Street East
Mixed-use
Sold 331 days ago
Summary
Sale
MINNESOTA
Mixed-use
The Minneapolis College of Art and Design has acquired a 70-unit apartment building located at 113 26th Street East in Minneapolis for $16.4 million. The property will be used as student housing as part of the college's plan to expand its campus and increase its student body to 1,000 by 2030. The purchase was made from Randolph Street Realty Capital.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $16,400,000
- Address: 113 26th Street East, Minneapolis
- Market: Minneapolis
- Buyer: The Minneapolis College of Art and Design - Brock Rasmussen & Annie Cleveland
- Seller: Randolph Street Realty Capital - Jonathan Saliterman
The Minneapolis College of Art and Design plans to fully occupy the building with students by fall 2024. Current tenants will be allowed to remain until the end of their leases.
Details
SOLD
IMAGE: Jonathan Saliterman & Brock Rasmussen
DATE: 06/01/2023
ADDRESS: 113 26th Street East
MARKET: Minneapolis
ASSET TYPE: Mixed-use
BUYER: The Minneapolis College of Art and Design - Brock Rasmussen & Annie Cleveland
SELLER: Randolph Street Realty Capital - Jonathan Saliterman
SALE PRICE: $16,400,000
UNITS: 70 ~ PPU: $234,286
NOTE: The Minneapolis College of Art and Design has purchased a 70-unit apartment building for $16.4 million to be used as student housing, as part of its plan to expand its campus and increase its student body to 1,000 by 2030. Current tenants will remain until their leases end, and the building will be fully occupied by students by fall 2024.View on map
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Address113 26th Street East
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