CBRE Arranges Sale of New BTR Communities in Minnesota
CBRE has arranged the sale of two build-to-rent (BTR) communities totaling 170 units in Woodbury, Canvas at St. Croix and Canvas at Woodbury. The properties were purchased from a joint venture between Watermark and PCCP, LLC, for an undisclosed amount.
CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller in the transaction. “BTR communities continue to be a very attractive housing strategy alternative for investors,” said Abramson. “We saw significant demand from publicly traded, institutional, and BTR-focused strategies.”
Canvas at St. Croix is located at 11483 Crestbury Drive, near the Interstate 94 and Manning Avenue intersection. Completed in 2024, the 89-unit property features a clubhouse and multipurpose room, a resort-style swimming pool, and attached two-car garages.
Canvas at Woodbury is located at 4644 Oak Point Lane, near Discovery Park and minutes east of Bailey Lake. Completed in 2022, the 81-unit property features a multi-use game lawn, a fitness center, and private yards and patios
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Kidder Mathews Arranges Sale of 45-Unit Multifamily in Walla Walla
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout