Invesco Real Estate sold the 394-unit The Grand Reserve apartments at 10285 Grand Forest Ln. in Woodbury, MN for $96.78 million, or approximately $246,000 per unit, to an affiliate of Goldman Sachs Group, Inc.
The 529,304-square-foot multifamily complex consists of one-, two-, three- and four- bedroom units in 48 buildings. It was built in 1999 in the Woodbury / Afton / Lake Elmo MF submarket, and was 96 percent occupied at the time of sale.
The seller was represented in the sale by Moran & Company.
Please see CoStar COMPS #3958717 for more information on this transaction.