Weidner Apartment Homes Acquires 354-Unit LPM Apartments In Minneapolis For $74M

Weidner Apartment Homes' affiliate has purchased the 354-unit LPM Apartments in Minneapolis for $74 million. The property, located at 1368 LaSalle Avenue, was built in 2014 and offers a variety of units and amenities, including a swimming pool, fitness center, and outdoor lounge areas. The transaction took place on June 23, 2023. The seller in this deal was National Real Estate Advisors.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $74,000,000
• Units: 354
• Price Per Unit (PPU): $209,040

Weidner Apartment Homes, represented by Jack O'Connor of the Weidner Apartment Homes agency, acted as the buyer in this transaction. National Real Estate Advisors served as the seller. The deal highlights the growing demand for multifamily properties in the Minneapolis market and showcases the features and amenities offered by the LPM Apartments.