Ted Bickel

Falcon Heights Apartments is a 45-unit student housing property less than half a mile from the University of Wisconsin River Falls campus. Falcon Heights sits directly adjacent to Falcon Center, a new $63.5M facility that houses the Health & Human Performance Departments, Athletics & Campus Recreation. The property underwent recent improvements in 2019 which included new siding, windows, parking lot and in-unit vinyl tile flooring. Falcon Heights is 100% occupied for the 2020-2021 school year.

Henley Apartments is a 74-unit complex made up of apartment units and townhomes units, that finished construction this year. Henley is located on Richfield Lake with water views and lakefront access, among countless walkable amenities in Lyndale Gardens. Henley is solar-ready and was designed to include green sustainable features throughout common areas and in-unit. Henley Apartments is a truly unique project in the heart of the growing suburb of Richfield.

Investment Highlights:

• Highly desired Southwest Metro location - Adjacent to Minneapolis & MSP Airport


• Rare urban suburban walkability - Lakewinds Co-Op Grocery, LA Fitness, Bars & Restaurants


• New construction by best-in-class team; North Bay, DJR Architecture, Frana Construction


• Forward thinking design with smart tech & sustainable features


• Water views & lakefront access with countless walkable amenities in Lyndale Gardens


• Quick highway access - 1/4 mile to 35W access (North/South); 1/4 mile to 62 access (East/West)

2 Building Portfolio - Golden Oaks Senior Assisted Living

60 Units

Price: $2,690,000

Hermantown
4067 Reinke Road
Hermantown, MN 55811

Proctor
23 Waterview Drive
Proctor, MN 55810

INVESTMENT HIGHLIGHTS

• Great scalability.


• Opportunity to acquire a large presence in one of the metro's most highly-ranked school districts and near some of its largest employers.


• Strong collections and low vacancy through the current economic shutdown.

INVESTMENT HIGHLIGHTS

• Great scalability.


• Opportunity to acquire a large presence in one of the metro's most highly-rated school districts and near some of its largest employers. 


• Strong collections and low vacancy through the current economic shutdown.

UNDER CONTRACT

WALKABLE URBAN LOCATION
Just one bock east of Hennepin Avenue and less than three blocks from numerous food options: Kowalski’s Grocery, three coffee options (Spyhouse, Starbucks and Caribou), four pizza options (Red’s Savoy, Papa John’s, Dominos, Pizza Hut), and well known restaurants (Burch Steak, The Lowry, Rinata).

PROXIMITY TO DOWNTOWN / JOBS
Located on the northern end of Uptown, residents have quick access to downtown Minneapolis and the largest concentration of employment centers in the Twin Cities area.

WELL MAINTAINED
Both the roof and parking lot were replaced in 2019. Current ownership has owned for more than 30 years and maintained very well in order to retain the original character of 1910 construction.

IN-DEMAND PRODUCT: With the influx of new luxury housing in and around downtown Minneapolis, a large gap remains between new construction rents and most of the older Class B product in the area. Aberdeen captures this rent gap, offering a high-end product at a price point that fits the budget of a large tranche of renters.

CUSP OF DOWNTOWN: Located on the edge of the CBD in Elliot Park, tenants can walk downtown while maintaining a more residential, neighborhood feel.

TARGETED GROWTH: As Downtown East continues its resurgence, Aberdeen will benefit from being one of the first projects in the ground.