Abacus Capital Group Acquires Meridian Pointe Apartments In Burnsville From LivCor For $63M

The property involved in this transaction is the Meridian Pointe Apartments, a multifamily asset located at 251 McAndrews Road West in Burnsville, Minnesota. The complex consists of five buildings and offers a total of 339 residential units. It was originally built in 1989 and underwent renovations in 2015. The property currently has a 3% vacancy rate and is attracting investor interest due to limited new housing supply in the region. The transaction was executed for $63 million, equating to approximately $185,841 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $63,000,000
• Buyer: Abacus Capital Group
• Seller: LivCor
• Units: 339
• Price Per Unit: $185,841
• Date of Sale: 10/08/2025
• Location: Burnsville, MN

Abacus Capital Group, based in New York City, facilitated the acquisition of the apartment complex from LivCor, a company headquartered in Chicago. The successful transaction reflects ongoing interest in the multifamily housing sector within the South Metro area, particularly amidst a challenging housing supply environment.