CBRE recently facilitated the sale of Gates at Carlson Center, a 435-unit multifamily property situated in Minnetonka, Minnesota. The property was acquired by FPA Multifamily from a global investment advisor for an undisclosed sum. Leading the transaction were CBRE’s Abe Appert, Keith Collins and Ted Abramson on behalf of the seller.
According to Collins, “The property has consistently maintained strong operational performance over its 17-year history with the seller.” Despite market volatility, CBRE received significant interest in this offering due to its prime location near over 2.2 million square feet of retail space and just a short drive from downtown Minneapolis.
Gates at Carlson Center boasts various one- and two-bedroom floor plans and is currently occupied at an impressive rate of 96.8 percent with extensive renovations completed on 98 percent of units since its original construction in 1990.
This recent transaction further solidifies CBRE’s expertise in facilitating successful real estate deals across diverse markets.
