March 24, 2016
Investcorp’s U.S.-based real estate arm acquired multifamily properties in Minnesota in two separate deals. The New York City-based Investcorp and its partner, Chicago-based Redwood Capital Group, reportedly spent a total of $114.8 million on the 534-unit Hampshire Hill Apartments and the 320-unit Southwind Village.
Hampshire Hill, at 10660 Hampshire Ave. South in Bloomington, was sold by a private investor. Virtu Investments of San Francisco sold Southwind, located at 15001 Greenhaven Dr. in Burnsville. The average occupancy rate of both assets is 95%.
Keith Collins, Abe Appert, and Laura Hanneman of CBRE’s Minneapolis office represented the sellers in both deals.