Updated Aug 27, 2026
SOLDMultiFamily
FLT Pure Lowry LLC Purchases 111-Unit Multifamily Building In Minneapolis For $18.8M
2000 Lyndale Avenue South
$18,800,000
Units
111
Asset Type
MultiFamily
Closing
Aug 25, 2026
About this deal
AI
The PURE Lowry apartment building, located at 2000 Lyndale Avenue South in Minneapolis, MN, is a multifamily asset featuring 111 units. The property was sold for $18.8 million, translating to approximately $169,369 per unit. The building, completed in 2020 with mixed-use capabilities, is situated in a prime market area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $18,800,000
- Units: 111
- Price Per Unit: $169,369
- Buyer: FLT PURE LOWRY LLC
- Seller: RSRC TGMA SPE LLC
- Brokers: Ted Bickel & Jeff Budish - NorthMarq
- Sale Date: 08/25/2026
A California-based entity linked to Red Tail Acquisitions executed the purchase of the property from RSRC TGMA SPE LLC, with the transaction facilitated by NorthMarq's Ted Bickel and Jeff Budish representing the seller.
Players
Bowling Green MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93