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Note

152 Unit Multi-Family-Opportunity Zone Investment ($250,000 Minimum Investment)

Listing was updated at: 07/12/2019

Property Overview

Price/Rent PSF Inquire
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 217,496
Date Available 07/12/2019
Additional URL Link
Parking 213
Floors 4
Additional parameters Show
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Description

Location
Upon completion, the Property will be a Class A, 4-story, 152-unit market rate multi-family building with 217,496
gross square feet. The site is located between West Broadway and Lakeland Avenue North and directly west of Citizens
Independent Bank (“CIB”) in Robbinsdale, Minnesota. The site is a redevelopment of 7 parcels; 3 CIB parking lots,
2 single family homes, the Lakeland Professional Building and a portion of the parking lot that supports CIB. The
project will be 100% market rate. The CIB branch will remain intact and in place and is not a part of the Project
however there will be shared parking, ingress and egress.

The site is located 3 blocks, 0.5 miles, from downtown Robbinsdale on Robbinsdale’s main street, West Broadway.
The site is directly south of Highway 81 (Bottineau Blvd.), Crystal Lake, Lakeview Terrace Park and the Crystal Lake
Regional Trail. This highly desirable location is transit, pedestrian, bicycle, and vehicle friendly (especially with the
planned light rail line expected to have a station located within half a mile). Additionally, downtown Robbinsdale
hosts grocery stores, drug stores, Wuollet Bakery and Hackenmueller Meats, Wicked Wort Brewing Company,
Lion’s Gym, boutique shops and everyday goods and services. Robbinsdale also has some of the best dining in the
Twin Cities metropolitan area with nationally acclaimed Travail, The Rookery, Pig Ate my Pizza, Performance
Meals, and Nona Rosa restaurants all within a few blocks stroll of the Property.

Sale
Robbinsdale OZ Fund, LLC (Under Construction-Delivery November 2019)
$16,800,000 Equity Sought (40%)
Sponsor/Developer Co-Investment $1,250,000
Anticipated Fund Term-Ten (10) Years
Birdtown Flats – a 152 Unit Class A Apartment Complex

Location

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