WEDNESDAY, AUGUST 27, 2008

HFF chosen to market two apartment communities in Minn.

by Walter Kovacs
Minneapolis-St. Paul

Parkers Lake Apartment Homes

Holliday Fenoglio Fowler, L.P. has been named to market for sale two luxury multi-family communities totaling 570 units; Parkers Lake Apartment Homes and Shadow Hill Estates. Both are in the Minneapolis suburb of Plymouth, Minn.

HFF's Matthew Lawton, Sean Fogarty and Marty O'Connell will market the properties on behalf of seller Principal Global Investors. There is no formal asking price, the properties are free and clear of debt and can be purchased individually or together.

Shadow Hills Estates, just north of Rockford Road near Highway 169, was completed in 2002 and has 322 one-, two- and three-bedroom units averaging 1,038 square feet. Amenities include an outdoor pool, fitness center, a billiards room and underground heated parking.

Parkers Lake Apartment Homes, one block from Parkers Lake and less than one mile west of Interstate 494, consists of 248 one, two and three-bedroom unites averaging 1,066 square feet apiece. Amenities include a fitness center, business center, tanning bed, two outdoor pools and a gazebo bar and grille.

Address: Shadow Hills Estates, 4540 Nathan Lane N., Plymouth, Minn.

Size: 322 units

Address: Parkers Lake Apartment Homes, 15100 18th Ave. N., Plymouth, Minn.

Size: 248 units

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