Bigos Management Acquires Zelia On Seven Multifamily In Saint Louis Park For $33.25M

The St. Louis Park affordable housing community, formerly known as Via Sol, has been sold to Bigos Management for $33.25 million. The property, now called Zelia on Seven, is located at 5909 & 5855 Minnesota State Highway 7 in Saint Louis Park, MN. It consists of 217 units along the Southwest Light Rail Transit corridor.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $33,250,000
• Units: 217
• Price Per Unit (PPU): $153,226

Ted Bigos of Bigos Management acted as the buyer in this transaction. The seller, Chris Velasco, represented PLACE E-Generation One LLC.

This acquisition by Bigos Management took place after the property went into receivership, allowing the buyer to purchase the asset at a discounted price of $153,225 per unit. This acquisition addressed the financial challenges and delays faced by the original developer, PLACE E-Generation One LLC.