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Old Posted Jan 14, 2017, 5:50 PM
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Urbannizer Urbannizer is offline
Join Date: Jan 2009
Location: SXSW
Posts: 8,806
Under Construction

REIT buys majority stake in housing high-rise near U of M

Dec. 20th, 2016

Tennessee real estate investor EdR has bought a majority stake in the 26-story student housing tower under construction near the University of Minnesota.

Finance & Commerce reports that EdR will have a 51 percent stake and manage the 431-unit building, called The Hub Minneapolis, which broke ground in October.

The $98 million project, at 600 Washington Ave. SE in Minneapolis, is one of the tallest buildings to be built near the school in decades. It's being developed by Harbor Bay Real Estate Advisors, led by co-founders Mark Bell and Tom Lund.

When completed, scheduled for summer 2018, The Hub will offer units ranging from studios to four bedrooms. Lund told F&C that announcements on retail tenants should come early next year.

Nov. 8th:

600 Washington Ave SE tower demolition Minneapolis 11-8-16 by Matt Bappe, on Flickr

Last edited by Urbannizer; Jan 14, 2017 at 6:10 PM.