CBRE announced today that Chicago-based The Habitat Company has closed on the purchase of Cedarvale Highlands, a 108-unit multifamily property at 3908 Cedar Grove Parkway in Eagan. The property was previously owned by Steven Scott Management.
Keith Collins, Ted Abramson, and Abe Appert of CBRE Minneapolis Multifamily represented Steven Scott Management in the sale.
“Eagan continues to be a top performing multifamily market with year-over-year rent growth of five percent,” said Abramson, senior vice president with CBRE. “Proximity to a strong employment base, surrounding retail and rapid bus transit make Cedarvale a well-positioned asset in the market.”
Cedarvale Highlands contains studio and 1-bedroom apartments, with more than 60,000-square-feet and features best-in-class amenities including on-site laundry rooms, storage lockers, an outdoor pool, detached garages, views of the Minneapolis skyline and direct access to a variety of retail outlets.