Colliers has completed the sale of The Copham, a multifamily community in Minneapolis’s North Loop neighborhood, in a transaction valued at $37.6 million. The property, located at 607 North Washington Avenue, is described as a marquee asset within one of Minnesota’s most prominent urban micro markets.
The Colliers investment sales team representing the seller comprised Executive Vice Presidents Mox Gunderson, Dan Linnell, and Adam Haydon, together with Associate Vice President Devon Dvorak and Associate Drew Jackson. The team advised seller Greco, a Minneapolis-based real estate development firm, and also represented the buyer, Great States Development.
Greco, headquartered in Minneapolis, specializes in real estate development and was the longtime owner of The Copham prior to this disposition. Great States Development, a real estate developer based in North Dakota with a focus on multifamily and commercial properties, expanded its Twin Cities portfolio through the acquisition. Gunderson noted that the transaction offered a rare chance to purchase a high-profile property in a micro market that is consistently cited as among the strongest-performing in the country.
The Copham comprises a mix of one- and two-bedroom residences, with 66 one-bedroom units and 54 two-bedroom units. At the time of closing, the building was reported to be 96% leased, signaling strong tenant demand and stable in-place occupancy for the new owner. The North Loop setting positions the asset within one of Minneapolis’s most established live-work-play neighborhoods.
The deal extends the relationship between Greco, Great States Development, and Colliers. The Copham is the second asset that Great States Development has purchased from Greco, following the buyer’s earlier 2025 acquisition of Elsewarehouse, described as the sister community to The Copham. Colliers also advised on that prior transaction, reinforcing its role in executing repeat investment sales assignments for the same counterparties.
Separately, Connect CRE highlighted that industry stakeholders will gather on Tuesday afternoon, June 2, 2026, for the Connect Midwest Multifamily Trends Conference, where JDL Founder Jim Leitchinger is scheduled to receive the Changing Skyline Award and participate in a keynote interview focused on multifamily development in the region.
