Omar Awad Purchases Highland Park Apartments In Fridley For $8.5M

The Highland Park Apartments in Fridley, Minnesota, encompass 77 units spread across three Class B buildings. The property, located at 610-680 Osborne Road Northeast, was recently sold for $8.5 million to local private investors. The apartment complex offers a variety of one, two, and three-bedroom units ranging from 756 to 1,092 square feet. The buyers plan to renovate the interiors and rejuvenate the property to give it a fresh identity in the market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,500,000
• Units: 77
• Price Per Unit: $110,390
• Acres: 3.91

The sale of the Highland Park Apartments was facilitated by brokers Abe Roberts and Michael Jacobs from Marcus & Millichap's Minneapolis office. They represented the seller during the transaction, connecting them with the private investor group that acquired the property. The deal signals a strategic move by the buyers to enhance the apartment complex's appeal through a comprehensive refurbishment plan.