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University Partners Enters Minneapolis, Pays $70M for Stadium View Apartments
Blue Vista Capital Management sold Stadium View Apartments, a 930-bed student housing complex that serves the University of Minnesota in Minneapolis. University Partners acquired the property at 2508 Delaware St. S.E. for $69.4 million. The transaction includes approximately $6 million worth of furniture, fixtures and equipment, and represents the Dallas-based buyer’s first activity in Minneapolis.
The new owner has plans to renovate the units and common areas, with upgrades beginning in 2019. Blue Vista Capital Management and partner Place Properties had owned the complex since 2010.
University Partners consists of principals from University Housing Communities, and is looking for student housing properties in various U.S. markets. KKR is the buyer’s capital partner.
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