A Dallas firm paid $69.4 million for the Stadium View Apartments near the University of Minnesota campus, according to a records filed on Feb. 8. The 277-unit, 900-plus bed project is at 2508 Delaware St. SE in the Stadium Village neighborhood in Minneapolis.
The nine-story complex was bought by an entity that's associated with Dallas-based University Partners, which specializes in student housing. The seller was a Chicago-based real estate investment firm associated with Blue Vista Capital Management.
The estimated market value of the 2.64-acre property, according to county tax records, is $56 million. It was built nearly 15 years ago and is an area that's dominated by student rentals, many of which have changed hands in recent months. Developer Kelly Doran helped was at the leading edge of the student housing construction boom in the area and he was among the first to start trading the properties he developed. He recently sold the 210-unit Bridges and the 101-unit Knoll projects.
