CBRE ARRANGES SALE OF EVERGREEN PARK MANOR APARTMENTS
August 30, 2021
Minneapolis, MN – August 30, 2021 – CBRE has arranged the sale of Evergreen Park Manor, an 80-unit multifamily property located in the Twin Cities suburb of Brooklyn Center. ASK Properties sold the property to Alex Eaton of Kentaurus Capital in a transaction that closed August 18th, 2021. A sale price was not disclosed.
Drew Rafshol and Ted Abramson from CBRE Minneapolis Multifamily represented the seller in the transaction.
Completed in 1980, Evergreen Park Manor is comprised of four apartment buildings and two garage buildings. Recent upgrades to many units include LVP flooring, new trim, appliances, backsplashes, and fixtures. The property enjoys a covenant location just minutes away from Highways 94, 694, and 252, providing tremendous proximity to area jobs.
“Investors were drawn by the value-add opportunity Evergreen Park Manor presented,” said Rafshol. “A well-located property with the ability to make more improvements is an attractive combination.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.