FPA Multifamily Acquires The Shale Apartments In Minneapolis From Reuter Walton For $13.65M
4757 Hiawatha Avenue
$13,650,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 7, 2026
AI
The Shale apartment property, located at 4757 Hiawatha Avenue in Minneapolis, MN, consists of 80 units and was constructed in 2021. It is a six-story multifamily asset that was purchased by FPA Multifamily from Reuter Walton for $13.65 million, translating to approximately $170,625 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,650,000
- Units: 80
- Price Per Unit: $170,625
- Buyer: FPA Multifamily
- Seller: Reuter Walton
- Brokers: Mox Gunderson, Dan Linnell, Adam Haydon & Devon Dvorak - Colliers
The deal was facilitated by a team from Colliers, indicating ongoing investment activity between FPA Multifamily and Reuter Walton, demonstrating their collaborative efforts in the multifamily market. The transaction occurred on April 7, 2026.
Players
Minneapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.16%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93