Hegenes Properties Inc. Acquires Bristol Village Apartments From Nuveen Real Estate For $58M

The Bristol Village apartment complex, located at 7301 Bristol Village Drive in Bloomington, MN, is a multifamily property consisting of 290 units. The asset was sold for $58 million, which translates to a price per unit of $200,000. This 11-building property was originally constructed in 1987 and underwent renovations in 2008.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $58,000,000
• Buyer: Hegenes Properties Inc.
• Seller: Nuveen Real Estate
• Broker: undefined - CBRE
• Units: 290
• Price Per Unit: $200,000
• Market: Bloomington, MN
• Year Built: 1987
• Renovation Year: 2008

Hegenes Properties Inc. acquired the property from Nuveen Real Estate, which is a subsidiary of TIAA. The sale was facilitated by the brokerage firm CBRE.