David Schwartz Of Waterton Acquires 370-Unit Multifamily Tower At 365 Nicollet Mall For $111.5M

The asset involved in this transaction is a 370-unit luxury apartment tower located at 365 Nicollet Mall in Minneapolis, MN. The transaction was completed for a total amount of $111,500,000, resulting in a price per unit of approximately $301,351.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $111,500,000
• Units: 370
• Price Per Unit: $301,351
• Buyer: David Schwartz - Waterton
• Seller: The Opus Group
• Broker Representatives: Keith Collins, Ted Abramson & Abe Appert - CBRE

This transaction marks Waterton's reentry into the Minneapolis market, facilitated by the brokerage team from CBRE comprising Abe Appert, Keith Collins, and Ted Abramson, reflecting a growing confidence among investors in the multifamily recovery within the city.