The Calhoun Towers apartment building in Minneapolis has changed hands.
St. Louis Park-based Bader Development has purchased the 21-story apartment tower located west of Lake Calhoun off Excelsior Boulevard, according to a Thursday announcement.
A spokesman for the development company declined to give the sales price of the building, and an electronic certificate of real estate value was not yet available as of Thursday afternoon.
“Our company always looks for what makes a property successful, and focuses on the amenities and features that our residents and the market desires,” said Robb Bader, vice president of acquisitions and development, in a statement. “Calhoun Towers is a property that we believe has many great years ahead, as the home to residents who desire the City of Lakes lifestyle as our city and region grows.”
The building had been owned by Minneapolis company Leamington.
Bader’s sister company Steven Scott Management will manage Calhoun Towers. Upgrades and improvements are planned though no details were disclosed.
Bader already owns the e2 Apartments on Excelsior Boulevard along with the Ellipse on Excelsior mixed-use development in St. Louis Park.