HFF named to market sale of two luxury multifamily communities in Plymouth, MN

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has been named to market for sale Parkers Lake Apartment Homes (top left photo) and Shadow Hills Estates,(bottom right photo) two luxury multifamily communities totaling 570 units in Plymouth, Minnesota.

HFF senior managing director Matthew Lawton,(top right photo) director Sean Fogarty (middle left photo) and managing director Marty O’Connell (bottom right photo) will market the properties on behalf of the seller, Principal Global Investors.

The properties are listed without a formal asking price, free and clear of debt and can be purchased together or individually.

Parkers Lake Apartment Homes includes 248 one-, two- and three-bedroom units averaging 1,066 square feet each. Residents have access to amenities including a fitness center, business center, tanning bed, two outdoor pools and a gazebo bar and grille.

Located at 15100 18th Avenue North, the property is one block from Parkers Lake and surrounding park areas and less than one mile west of Interstate 494.

Shadow Hills Estates is located just north of Rockford Road near Highway 169. Completed in 2002, the property has 322 one-, two- and three-bedroom units averaging 1,038 square feet. Community amenities include underground heated parking, an outdoor pool, a fitness center, a billiards room and a children’s play area.

“Both properties are located in Plymouth, a premier Twin Cities suburb, the third largest suburb of Minneapolis and just 15 miles to the northwest of downtown,” said Fogarty. “Plymouth was also recently voted the #1 small city to live in America by CNN/Money Magazine in 2008.”

Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group®, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services.

Principal Global Investors manages $244.4 billion in assets primarily for retirement plans and other institutional clients.*

CONTACTS:

Matthew D. Lawton, HFF Senior Managing Director, 312, 528 3650, mlawton@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com