Class A, 254-unit, award-winning, transit-oriented apartment community that includes a ground floor commercial space that is leased to a premier local grocer on a long-term basis.
Investment Rationale
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Minneapolis-Saint Paul is home to 2.9 million residents. It boasts one of the strongest job markets in the country with an unemployment rate of 2.9%, ranking first among the 50 largest metropolitan areas in the nation.
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Downtown Saint Paul has achieved a critical mass of amenities and residential population that is rapidly accelerating the growth of each, making it a Millennial Magnet location in which over 30% of the population is between 20 and 34 years old.
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The area now boasts a 95 out of 100 Walk Score® – walkscore.com’s proprietary ranking of a property’s desirability based on its proximity to retail, restaurant, and employment amenities.
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Green roof mitigates stormwater runoff and has a weather station for the local university
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The new,high-quality property, anchored by the only downtown grocery store in a true urban location, is an appropriate fit within our apartment investment focus.
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LEED Certified
Property Gallery
Location
![Penfield Map2](https://jllipt.imgix.net/uploads/properties/the-penfield/map/penfield_map2.jpg?auto=format%2C%20compress&ch=DPR&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&ixlib=php-3.3.1&w=400&s=9bb371b1d53ffbda7e3eec2187751ee0)