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Roundhouse has acquired Rafter Apartments, a 283-unit luxury multifamily property in Minneapolis. The joint venture of Mortenson, The Excelsior Group and an institutional partner sold the asset.

JLL brokered the deal on behalf of the seller and arranged acquisition financing through Fannie Mae. JLL Real Estate Capital will service the loan.

Located at 333 E. Hennepin Ave., the high-rise is close to a host of dining and retail options and less than 2 miles from downtown Minneapolis. The Minneapolis–Saint Paul International Airport is some 10 miles southeast.