JLL recently completed the sale of Shalimar Estates, a townhome community consisting of 48 homes in Burnsville, Minnesota. The transaction was led by JLL’s Capital Markets Investment Sales Advisory team, with Managing Director Josh Talberg and Senior Director Bill Mork at the helm.
The seller for this property was Gaughan Companies and it is part of their larger 800-unit Minnesota Legacy Apartment Portfolio that JLL has been marketing for sale.
Situated on 5.61 acres at 13340 Parkwood Dr., Shalimar Estates offers easy access to Minneapolis and St. Paul as well as proximity to the Minneapolis-St.Paul Airport and Mall of America.
According to Talberg, there has been significant interest from investors in multi-housing properties within Gaughan’s portfolio due to strong demographics and a robust local economy in the Twin Cities market. This latest transaction marks the sixth property sold within Gaughan’s portfolio thus far.
