REBusinessOnline

JLL Brokers $59M Sale of Apartment Community Near Minneapolis

FRIDLEY, MINN. — JLL Capital Markets has brokered the sale of The Cielo Apartments in the Minneapolis suburb of Fridley for $59 million. The 269-unit complex features floor plans that range in size from 586 to 1,345 square feet. Amenities include a fitness center, game room, community room, study area, walking paths and secured parking. Dan Linnell, Mox Gunderson, Josh Talberg and Adam Haydon of JLL represented the seller, Trident Development. Peak Capital Partners was the buyer. JLL also worked on behalf of the new owner to secure a seven-year, $44.2 million acquisition loan through Freddie Mac.

Content Partners
‣ Arbor Realty Trust
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‣ Lee & Associates
‣ Lument
‣ NAI Global
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‣ Walker & Dunlop

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