Northmarq brokers sale of Millennium West End in St. Louis Park, Minnesota for $50.7 million

MINNEAPOLIS, MINNESOTA (September 6, 2022) – Ted Bickel, managing director, and Jeff Budish, managing director of Northmarq’s Minneapolis investment sales office, secured the $50.7 million sale of Millennium West End. The 158-unit/6-story multifamily property (built in 2016) is located at 5245 Wayzata Boulevard, St. Louis Park, Minnesota. Northmarq represented the seller, Abacus Capital Group, in the sale. Notably, the sale price represents a highwater mark on a per unit basis for a suburban apartment sale in the Twin Cities.

“Considering the interest level during marketing and ultimate pricing on this asset, we see continued strength and resilience in core suburban assets during a relatively choppy summer in the capital markets space,” said Bickel. 

Millennium West End is centrally located east of the Twin Cities and easily accessible to main roadway systems. The property offers lots of attractions nearby and is just minutes from entertainment, education, and employment opportunities. Residents have a variety of pet friendly floorplans to choose between studio, 1, 2, and 3 bedrooms, each including high-end finishes and resort-style amenities.

Community amenities include: Rooftop sundeck with skyline view, pool with clubhouse, fitness center with yoga studio, outdoor kitchen with grill, dog park with pet washing station, bike repair system with storage, lawn bowling, fire pits, dry cleaning service, car charging station, on-site property management and maintenance, storage space, package service, elevator, and underground assigned parking space.

Interior amenities include: Granite countertops, stainless steel appliances, pantry, fully equipped eat-in kitchen, custom walk-in closets, intercom system, double vanities, dining room, city views, balcony/patio, and office.