Chicago, IL, August 27, 2019 – Redwood Capital Group, LLC, a Chicago-based multi-family investment firm, has completed the sale of Southwind Village, a 320-unit multifamily property in Burnsville, Minnesota to an investment firm out of Indianapolis. The deal was brokered by CBRE.
“Since acquiring Southwind Village, we have added significant value by enhancing onsite amenities and renovating many of the units, resulting in higher rents, ” said Bill McDougall, Vice President, and Acquisitions at Redwood Capital Group. “The new owner has the opportunity to enhance value even more by continuing the upgrade program.”
Southwind Village consists of five two-story townhome style buildings and a one-story clubhouse. Amenities include a new state-of-the-art fitness center, two swimming pools with sundecks, outdoor kitchen, LuxerOne electronic package delivery and pick-up room, a community room with a kitchen and fireplace, and heated underground parking with additional storage for residents.
Redwood Capital Group has updated a portion of the apartments with new plumbing fixtures, countertops, appliances and lighting, bringing the product offering to a competitive level with new Class A apartments in the area.
Southwind Village’s central location offers easy highway access, good public transit, proximity to a large park, and access to a range of retail, restaurant, employment and entertainment options.