Nuveen Real Estate Sells Multifamily Asset At 2838 Fremont Avenue South For $36.1M
SOLD
$36,100,000
Minnesota
See Similar DealsMultiFamily163,678 SF
Sold 09/16/2025
SOLD
Nuveen Real Estate Sells Multifamily Asset At 2838 Fremont Avenue South For $36.1M
2838 Fremont Avenue South
See Similar DealsMultiFamily163,678 SF
Sold 09/16/2025
Summary
MINNESOTA
Asset Type:MultiFamily
Price Per Square Foot:$220
Total Square Footage:163,678 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 2838 Fremont Avenue South in Minneapolis, MN. The property, comprised of 216 units, has a total square footage of 163,678, resulting in a price per unit of $167,129 and a price per square foot of $220. The sale price for the asset was $36,100,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $36,100,000
- Units: 216
- Square Footage: 163,678
- Price Per Unit: $167,129
- Price Per Square Foot: $220
- Seller: Nuveen Real Estate
- Seller's Representatives: Josh Talberg & Joseph Peris - JLL
- Date of Transaction: 09/16/2025
This deal involved key individuals from JLL, with Josh Talberg and Joseph Peris representing the seller, Nuveen Real Estate, ensuring the successful transaction of this multifamily property in the Minneapolis market.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,925,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$128,255.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$171,132.42
Annual Debt Service$2,053,589.01
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