JLL Capital Markets announced that it has closed the $53.4 million sale of and the $25.5 million financing for Elan West End, a 164-unit, newly built multi-housing community in St. Louis Park, Minn.
JLL worked on behalf of the seller and procured the buyer. JLL also represented the new owner to secure the financing through a correspondent life insurance company.
Built in 2020, Elan West End features studio and one-, two- and three-bedroom units, averaging 885 square feet. Units offer dual-tone Shaker cabinetry with tile backsplash, quartz countertops with stainless steel appliances, French door refrigerators, wine refrigerators, and plush carpeting in bedrooms and closets. Community amenities include a pool and spa, sky lounge, amenity deck, lounge area with golf and hockey simulator and a club-quality fitness center.
Situated at 1325 Utica Avenue South, the property is in the West End micro-market, a shopping, dining, industry and entertainment hub in St. Louis
