L&B Realty Advisors Acquires 126-Unit Borealis North Loop Apartment Building From Solhem Cos For $46.25M

The multifamily asset involved in this transaction is the Borealis North Loop apartment building located at 721 North 1st Street, Minneapolis, MN. The property consists of 126 units and was developed by Solhem Cos in 2018. The total square footage of the property is 207,225 square feet. It was sold for $46,250,000, translating to approximately $367,063 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $46,250,000
• Units: 126
• Price Per Unit: $367,063
• Seller: Solhem Cos
• Buyer: L&B Realty Advisors

The transaction was facilitated by L&B Realty Advisors, who acquired the property from Solhem Cos. This acquisition adds to L&B Realty Advisors' portfolio, reflecting their strategy in the multifamily real estate market in Minneapolis, MN.