Home News Twin Cities Developer Buys 16-Property Portfolio For $249M

Twin Cities Developer Buys 16-Property Portfolio For $249M

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Jason Simek of Capital Partners and 9210 Wyoming Avenue North (Capital Partners, Getty)

Edina-based Capital Partners has partnered with Bahrain-based alternative investment firm Investcorp to purchase 16 properties across the Twin Cities for $249 million. Minneapolis/St.paul business journal report.

The seller is Winnipeg, Manitoba-based Artis REIT, which brought in about $148 million, the outlet reports.

Spanning 2.5 million square feet and approximately 95% occupied, these properties bring Capital Partners’ real estate holdings to a total of 13.5 million square feet.

Capital Partners managing partner Jason Shimek said the purchase was attractive because many of the properties are in congested Class A submarkets with little developable land. , is the second-largest real estate purchase in the Minneapolis-St.

The seller, Winnipeg, Manitoba-based Artis REIT, has made approximately $148 million on the sale of the property, which is approximately 95% occupied.

The contract includes:

  • The 120,000-square-foot Parkside Industrial Center at 7300 North 49th Street in New Hope
  • 130,500 sf Aurora Industrial Warehouse at 2500 Walnut Street, Roseville
  • 209,000 sq ft Berkshire Lane I & II at 800-1000 Berkshire Lane, Plymouth
  • 103,500 square foot Bush Lake Road Industrial Center in Edina
  • 50,500 sq ft Mendota Heights Gateway Commons on Waters Drive
  • The 217,500-square-foot Pen James Commerce Center in Bloomington
  • Plymouth’s 112,500-square-foot 12th Street Distribution Center
  • 250,000 sq. ft. Energy Park Distribution Center in St. Paul
  • 113,000 sq ft industrial estate business center in Plymouth
  • 168,000 sq ft and 170,000 sq ft Mid-City Business Center South in Minneapolis
  • The 406,000-square-foot Pilot Knob Distribution Center in Mendota Heights
  • 68,000 sq ft Crosstown North II and 73,000 sq ft Crosstown North VI in Brooklyn Park
  • 84,000-square-foot Plymouth Corporate Campus
  • 106,500 sq ft Tech West in Plymouth and Home Depot store in Litchfield

— Victoria Pruitt

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