**JLL Arranges Sale of 95-Unit Apartment Property in Waite Park, Minnesota**
JLL has successfully arranged the sale of Park Villas Apartments, a 95-unit multifamily community situated on seven acres in Waite Park, Minnesota.
The seller, Podawiltz Development Corporation, was represented by JLL’s Capital Markets Investment Sales and Advisory team. The team was led by Managing Director Josh Talberg, Director Joseph Peris, Senior Managing Director Ken Dayton, Senior Director Pat McMullen, and Analyst Jack Graveline. The buyers were Noel Johnson and Jamison Kohout of Venture Development Group.
Located at 500 3rd Street South, Park Villas Apartments caters to the 55-and-over demographic and features 71 single-story, cottage-style units and 24 two-story townhome apartments. Originally constructed in 1991, the property underwent extensive renovations in 2008. It spans a total of 7.15 acres and offers approximately 88,405 square feet of rentable space.
“Park Villas represented the strong demand for exurban and secondary markets across the Twin Cities, which our team has been heavily involved in as capital continues to flow through the area,” said Josh Talberg of JLL.
Industry professionals can learn more about current trends in the multifamily sector by attending Connect Apartments 2025. This event will feature leaders from Equity Residential, Related California, Hanover Residential, Thorofare Capital, Marcus & Millichap, and more. It will take place on September 11 in Los Angeles and will include discussions on investment strategies, regulatory outlooks, and industry growth.
