FPA Multifamily Acquires Arrive Minnetonka Multifamily In $89M Deal

Arrive Minnetonka, a 435-unit apartment community located at 300 Carlson Parkway in Minnetonka, Minnesota, has been sold for $89 million. The transaction took place on October 31. The buyer, FPA Multifamily, which is linked to San Francisco-based FPA Multifamily, acquired the property from the seller, DWS Group, through an entity affiliated with Rreef.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $89,000,000
• Units: 435
• Price Per Unit (PPU): $204,598
• Address: 300 Carlson Parkway, Minnetonka, MN
• Market: Minnetonka, MN

The buyer's representative in this deal was Sayer Sweeney from FPA Multifamily, while the seller was represented by Dr Stefan Hoops from the DWS Group. The transaction was facilitated by brokers Abe Appert, Keith Collins, and Ted Abramson from CBRE.