Q2 2012 Minneapolis, Minnesota Apartment Property Sales Analysis

CRE Resources

View our Minneapolis, Minnesota Submarket Map

Q2 2012 Minneapolis, Minnesota Apartment Property Sales Analysis


There were five apartment investment sales during the second quarter, for $63.9 million at a mean price of $113,000 per unit and a mean cap rate of 6.0%. It was the strongest quarter for apartment sales since the third quarter of 2010. The quarter’s leading sale took place in June, when Evergreen Development LLC sold the 164-unit University Commons in Minneapolis to American Campus Communities Inc. for $31 million ($189,000 per unit). The 1,630 units that have sold over the past 12 months equal 1.2% of the inventory.