JLL Capital Markets announced the sale of Flux Apartments, a 216-unit luxury apartment community located at 2838 Fremont Avenue South in Minneapolis’ coveted Uptown neighborhood.
JLL represented the seller, Nuveen Real Estate, in the transaction and secured the buyer.
Built in 2012, Flux Apartments represents a rare, fully union-built luxury residential community spanning 216 homes. The property features amenities including an outdoor resort-style pool and spa, state-of-the-art fitness center and yoga studio, outdoor courtyard and dedicated dog park and wash stations. The community also offers ample covered parking spaces in an underground structure.
Flux Apartments occupies a premier location in Uptown, a historic Minneapolis neighborhood situated between downtown Minneapolis and the renowned Minneapolis Chain of Lakes. The community sits just four blocks from the Chain of Lakes and provides immediate access to the Midtown Greenway, a six-mile multi-use trail connecting parks, businesses and cultural destinations between the Mississippi River and the lakes. Residents enjoy walkable access to a vibrant retail corridor with bars and restaurants, boutiques and entertainment.
The JLL Capital Markets team representing the seller included Managing Directors Josh Talberg and Director Joseph Peris.
“We’re thrilled for the buyer, who acquired a truly rare investment opportunity in a proven luxury asset within a legacy Minneapolis neighborhood,” said Talberg. “The property’s institutional-quality construction, amenity package and irreplaceable location in Uptown position it perfectly to benefit from the neighborhood’s ongoing revitalization. We remain encouraged by the strong engagement from the market for Minneapolis listings, highlighting today’s investor demand for high-quality, well-located product throughout the Twin Cities.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
