The Minneapolis Grand Apartments in south Minneapolis were sold last week for $11.2 million.
The 90-unit apartment community, located at 2401 Chicago Av. S., was built in 2005, according to CBRE Group Inc., which represented the seller, Grand Acquisition LLC of Minneapolis.
The buyer was an investment group led by affiliates of CAPREIT Inc. of Rockville, Md. CAPREIT is a private real estate company that owns and manages multi-family properties nationwide, including The Barrington, a 282-unit complex in Woodbury that the firm purchased in January.
Janet Moore covers commercial real estate for the Star Tribune.