Belgarde Enterprises Acquires 164-Unit Elan West End Multifamily In St. Louis Park For $53.4M

The multifamily property located at 1665 Utica Avenue South in Saint Louis Park has been sold in a closed transaction. The property spans across 1.5 acres and features a total of 164 units. The sale price for this transaction amounted to $53,400,000, resulting in a per unit price of $325,610.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $53,400,000
• Address: 1665 Utica Avenue South
• Market: Saint Louis Park
• Asset Type: Multifamily
• Acres: 1.5

The buyer in this transaction was Belgarde Enterprises, while the seller was Bob Faith representing Greystar. JLL's Adam Haydon, Brock Yaffe, Dan Linnell, Devon Dvorak, Josh Talberg, and Mox Gunderson acted as the brokers for this deal.

It's worth noting that the 164-unit Elan West End apartment community has been rebranded as Arlo West End following its acquisition. The property offers various amenities and is located in the West End area, contributing to the vibrant rental housing market in the Twin Cities.