Dakota Pacific and Landmark Cos. JV sells Minnesota multi-housing community for $74.7m
Dakota Pacific Real Estate and Landmark Companies announced that it has closed the $74.7 million sale of Millennium Edina, a 227-unit midrise multi-housing community located within suburban Minneapolis in Edina, Minn.
JLL Capital Markets worked on behalf of the seller and procured the buyer, a private investor. Additionally, JLL worked on behalf of the new owner to secure the financing. The loan will be serviced by JLL Real Estate Capital.
Completed in 2021, Millennium Edina features studio and one-, two- and three-bedroom units with floor-to-ceiling windows, plank-style flooring, quartz counters, stainless steel appliances, balconies/terraces, in-unit washers and dryers and an average size of 905 square feet. Community amenities include a green roof, yoga studio, game room, golf simulator, movie theater, fitness center, coworking spaces, sunset terrace, outdoor pool, spa and more.
Situated at 3250 W. 66th St. within the southwest submarket, Millennium Edina is