FPA Multifamily Acquires 204-unit, Cascade at Town Center, near Minneapolis from Harbert, Magellan JV

3/11/2025

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MHN

• Subcategory: MF: Market Rate

• Tag: Sale

• Additional Filters-Subcategory: MF: Midrise

• Additional Filters-Tags: Sale: Investment, Sale: Single Property

• Company: Harbert Management Corporation (HMC), FPA Multifamily, Jones Lang LaSalle (NYSE: JLL), Freddie Mac

Cascade at Town Center, a 204-unit multifamily community in Eden Prairie, Minn., has been sold by Harbert Management and Magellan Investment Partners to FPA Multifamily through a refinancing by JLL, which represented both sides of the deal. Financing was made through Freddie Mac, and JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender, will service the loan.