AMFP VIII IRONWOOD LLC Acquires Red20 Apartments From Anne M. Olson For $32.35M

The property involved in this transaction is a multifamily asset located at 20 Sixth Street Northeast, Minneapolis, MN. The property consists of 130 units with a price per unit of $248,846, resulting in a total sale price of $32,350,000. The Red20 Apartments, built in 2014, features ground-floor retail and amenities such as a fitness center and coworking space.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,350,000
• Buyer: AMFP VIII IRONWOOD LLC
• Seller: Anne M. Olson - Centerspace
• Units: 130
• Price Per Unit: $248,846

This acquisition was facilitated by Abacus Capital Group, which, through AMFP VIII IRONWOOD LLC, expanded its Twin Cities multifamily portfolio with this purchase. The deal follows Abacus's recent acquisition of the Ironwood Apartments in New Hope.