Heartland Realty Investors Acquires Creekside Apartments In Plymouth For $46M

The Creekside Apartments, located at 200 Nathan Lane North in Plymouth, MN, were sold by Bader to Heartland Realty Investors Inc. for $46,000,000. The multifamily property consists of 204 units, resulting in a price per unit of $225,490.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $46,000,000
• Units: 204
• Price Per Unit: $225,490
• Buyer: William Walter - Heartland Realty Investors Inc.
• Seller: Bader
• Brokers: Abe Appert, Keith Collins & Ted Abramson - CBRE
• Date: 06/27/2024
• Market: Plymouth, MN

The sale of the Creekside Apartments was facilitated by CBRE, with 18 offers received during the transaction. The deal also secured a favorable assumed mortgage rate of 3.95%, indicating strong interest in suburban Twin Cities properties among investors.