JLL has closed the sale of Twelve 501 Apartments, a 336-unit multifamily community in Burnsville, Minnesota.
JLL represented the seller, FPA Multifamily and secured the buyer, Osso Capital, marking their first-ever investment in Minnesota. The JLL Capital Markets team was led by Managing Director Josh Talberg, Director Joseph Peris and Associate Eli Smith. “The asset’s quality, coupled with strong location fundamentals, makes this a standout investment and market entry-point for the Osso team,” said Talberg. “Twin Cities’ strong fundamentals continue to draw national attention, with ongoing new capital flows consistently entering the market.”
Twelve 501 Apartments is located in Burnsville’s downtown corridor, featuring urban-style amenities and retail. Built in 1986 and extensively renovated beginning in 2017, the asset offers spacious layouts, plus a wide variety of community amenities. The four-story property is situated on a sprawling 14.62-acre site overlooking Birnamwood Golf Course.
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