CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Shadow Hills Estates, (top right photo) a 322-unit multifamily community in Plymouth, Minnesota.The HFF investment sales team was led by senior managing director Matthew Lawton, (top left photo)director Sean Fogarty (middle rigfht photo) and managing director Marty O’Connell (bottom left photo) who marketed the property on behalf of the seller, Principal Real Estate Investors.
Bigos Inve
stments purchased Shadow Hills Estates on an “all cash” basis.
stments purchased Shadow Hills Estates on an “all cash” basis.Completed in 2002, Shadow Hills Estates has one-, two- and three-bedroom units averaging 1,038 square feet each. Community amenities include two pools, a fitness center, billiards room, underground heated parking and resident storage facilities.
The property is located at 4540 Nathan Lane North near Highway 169 in Plymouth, approximately 15 miles northwest of downtown Minneapolis.
“With its Plymouth address, Shadow Hills Estates is located in a top suburb of Minneapolis which in 2008 was voted ‘the #1 Small City to Live in America’ by CNN/Money Magazine,” said Fogarty.
Principal Real Estate Investors is the fourth largest institution
al real estate manager in the U.S. based on tax-exempt assets under management (as ranked by U.S. institutional tax-exempt real estate assets, out of 99 managers profiled, as of June 30, 2008. “Real Estate Managers,” PENSIONS & INVESTMENTS, Sept. 20, 2008. ) and manages or sub-advises $44.4 billion in commercial real estate assets.
al real estate manager in the U.S. based on tax-exempt assets under management (as ranked by U.S. institutional tax-exempt real estate assets, out of 99 managers profiled, as of June 30, 2008. “Real Estate Managers,” PENSIONS & INVESTMENTS, Sept. 20, 2008. ) and manages or sub-advises $44.4 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives.
Principal Real Estate Investors is the dedicated real 
estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®. Bigos Investments is located in Edina, Minnesota and was founded in 1984 by Ted Bigos. The company currently holds ownership/management of 33 apartment communities or more than 5,000 units primarily in the Minneapolis/St. Paul area.
CONTACTS:
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
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