JLL has arranged the sale of Lyra at Riverdale Station, a luxury 180-unit multifamily community in the Twin Cities’ north suburbs of Coon Rapids, Minnesota.

JLL represented the seller in the transaction and procured the buyer, MLG Capital. Acquisition financing was secured by assuming the property’s existing HUD loan, which was placed and is serviced by JLL. JLL Capital Market’s Investment Sales and Advisory team was led by Managing Director Josh Talberg and Director Joseph Peris.

Lyra represents the counterpart asset to Aster, which JLL sold in December 2025. Together, these assets comprise the dual-asset master development within Coon Rapids’ desirable Riverdale Station corridor, a central hub offering walkability to retailers, restaurants and grocery. “The robust investor demand we’re seeing for Twin Cities properties reinforces our view that the market remains a national focal point for multifamily investment in 2026,” said Talberg.

Join us on the afternoon of Tuesday, June 2, 2026, at Joe’s Live in Rosemont, IL, for the Connect Midwest Multifamily Trends conference.