JLL Closes Sale of Twin Cities Apartments

JLL has closed the sale of Oakmont Apartments, a 48-unit multifamily community located in Coon Rapids, Minnesota. On behalf of Gaughan Companies, JLL facilitated the sale of Oakmont, which is part of Gaughan’s larger Minnesota Legacy Apartment Portfolio and consists of nearly 800 units.

The JLL Capital Markets Investment Sales Advisory team was led by Managing Director Josh Talberg and Senior Director Bill Mork. The property was purchased by a local high-net-worth private investor. “Investor demand continues to be strong for well-located assets across the Twin Cities, evidenced by multiple bids throughout the portfolio and pricing that surpassed our expectations,” said Talberg.

Built in 1974, the Oakmont Apartments property is located at 11610 Tulip St. NW in the Twin Cities’ northwest suburbs, on the border of Anoka and Coon Rapids. The asset is situated within blocks of the Mississippi River and features studio, one-bedroom and two-bedroom units, as well as several common-area amenities.

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