Bigos Management Acquires 119-Unit Flats At West End From The Excelsior Group For $35.5M

The property asset involved in this transaction is a multifamily community located at 5310 16th Street West in St. Louis Park, MN. The property features 119 units and was sold for $35,500,000, resulting in a price per unit of approximately $298,319. The Flats at West End, built in 2018, includes one- and two-bedroom units along with various amenities such as a pool, fitness center, and roof terrace.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $35,500,000
• Buyer: Bigos Management
• Seller: The Excelsior Group
• Units: 119
• Price Per Unit: $298,319
• Loan Amount: $22,650,000
• Market: St. Louis Park, MN

Bigos Management, a prominent player in the multifamily market, acquired the property from The Excelsior Group, which developed the Flats at West End. The purchase was facilitated through a loan backed by Grandbridge Real Estate Capital.