Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Oppidan partners with Denver firm for development in North Dakota

Posted by: Janet Moore Updated: October 14, 2013 - 5:21 PM

Last August, we wrote here about Minnetonka-based Oppidan Investment Co. investing big time in North Dakota's oil region.

Now the national property development company recently broke ground for a 43-acre master planned residential community in Watford City, N.D., called The Highlands.

Oppidan is partnering with Denver-based Consolidated Investment Group (CIG), a privately held investment company that focuses on real estate, capital markets and philanthropic initiatives. Its portfolio is valued in excess of $1.5 billion. CIG owns the land and is developing The Highlands -- and Oppidan is managing construction.

The new development calls for 20 single-family detached homes, 38 twin homes, 79 townhomes, 378 apartment units and up to 16,000 square feet of commercial development. The project also includes a city park, a playground, sledding hill and skating pond.

Janet Moore covers commercial real estate for the Star Tribune.

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