Weidner Apartment Homes Acquires 318-Unit Multifamily Property In Minneapolis For $77 Million

The property asset involved in the transaction is the multifamily unit located at 313 Washington Avenue South in Minneapolis, MN. The transaction was completed for a total price of $77,000,000 and encompasses 318 residential units, resulting in a price per unit of $242,138.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $77,000,000
• Units: 318
• Price Per Unit: $242,138
• Buyer: Dean Weidner - Weidner Apartment Homes
• Seller: Cortland Management
• Brokers: Abe Appert, Keith Collins & Ted Abramson - CBRE

Dean Weidner, representing Weidner Apartment Homes, acquired the Cortland Mill District apartment community with intentions to rebrand it as the “Grand Mill District.” The brokerage firm CBRE, including Keith Collins, Abe Appert, and Ted Abramson, facilitated the sale on behalf of the seller, Cortland Management.