Canada-based Artis Real Estate Investment Trust on Monday announced a $100 million equity offering -- a cash infusion that will help fuel several acquisitions, including the 601 Tower at Carlson in Minnetonka.
The sale price for the property at the intersection of Interstates 394 and 494: $75 million.
The 15-story office tower spans 288,458 square feet and is more than 99 percent occupied by tenants such as Wells Fargo Advisors, RBC Capital Markets, OneBeacon Services LLC and HQ Global Workplaces, and others.
The building is described as a "well-known landmark with its flame-cut, polished burgandy granite and reflective glass exterior." Amenities include event space, conference rooms, a gift shop, full-service cafe, concierge and a fitness facility.
The acquisition is expected to close on June 11.