JLL Brokers Sale of 89-Unit Luxury Apartment Building in Shakopee, Minnesota

SHAKOPEE, MINN. — JLL Capital Markets has brokered the sale of The DECO, an 89-unit luxury apartment building in the Minneapolis suburb of Shakopee. Joseph Peris and Josh Talberg of JLL represented the seller, Enclave Development. The buyer was LouMin Holdings, a locally based multifamily investment firm. Completed in 2021, The DECO features a rooftop sundeck, fitness center, clubroom, underground parking and ground-floor retail space occupied by Mana Brewing. The development is situated on the site of Shakopee’s original City Hall from 1883. LouMin has engaged Sail Management to oversee day-to-day operations of the five-story property. The acquisition was funded through an equity raise and supported by institutional financing, including a Fannie Mae loan.