RPM Living Acquires The Beach Club Residences In Minneapolis For $103.25M From Apartment Income REIT

The Beach Club Residences is a multifamily luxury complex located at 2900 Thomas Avenue South in Minneapolis, MN. The property consists of 332 units and was sold for $103,250,000, equating to approximately $310,994 per unit. This transaction is noted as one of the city's highest per-unit multifamily sales in 2025, situated strategically between Lake of the Isles and Bde Maka Ska.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $103,250,000
• Units: 332
• Price Per Unit: $310,994
• Buyer: RPM Living
• Seller: Apartment Income REIT
• Brokerage Firm: Colliers
• Broker Representatives: Mox Gunderson, Dan Linnell, Adam Haydon & Devon Dvorak

The deal was facilitated by Colliers, representing all parties involved in the transaction. RPM Living's acquisition of the property highlights a significant investment in the Minneapolis multifamily market, identifying The Beach Club Residences as a prime value-add opportunity for future enhancements.