Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
CONTACT Us
BACK TO TOP
molly podratz
Director
molly.podratz@berkadia.com
312.952.0315
821 SF
1974
218,405 SF
9 Residential + 1 Clubhouse
Three
Average Unit Size:
Year Completed:
287
Number of Units:
Total Rentable Area:
Number of Buildings:
Stories:
2808 Silver Lane NE | St. Anthony, MN 55421
PROPERTY OVERVIEW
Berkadia is pleased to present an exclusive VALUE-ADD opportunity to acquire Equinox Apartments, an exceptionally-located multifamily property built in 1974 with 266 units in nine 2-story buildings with 527 total parking spaces (1.98 per unit). Equinox Apartments, located on a large 17.48-acre site just steps from beautiful Silver Lake, is surrounded by walkable retail including a Cub Foods grocery store, Caribou and Starbucks coffee shops, Culvers, and many other retailers and restaurants. Equinox offers residents the best of urban-suburban living at a favorable price point with significant value-add upside.
OVERVIEW
Visit Doc Center
2808 Silver Ln NE | 266 Units | 1974 | St Anthony, MN
HIGHLIGHTS
OPPORTUNITY
DOCUMENT CENTER
CONTACT
PRIVACY
TERMS OF USE
St. Anthony | Minnesota
Opportunity
Highlights
Document Center
Terms of Use
Privacy
Contact Us
INVESTMENT HIGHLIGHTS
PETE EVANS
Senior Managing Director
pete.evans@berkadia.com
847.226.0836
investment sales
michael slovitt
Managing Director michael.slovitt@berkadia.com
312.636.5322
Paul matusiak
Senior Managing Director
paul.matusiak@berkadia.com
708.203.6591
SCALABLE VALUE-ADD PLATFORM:
94% OF UNITS AVAILABLE FOR UPGRADE | 249 TOTAL
4 MILES TO MEDTRONIC HQ: $32 BILLION F500
5.3 MI. TO UNIVERSITY OF MINNESOTA’S MAIN CAMPUS
6 MI. TO DOWNTOWN MINNEAPOLIS
1. ST. ANTHONY: FUTURE-FORWARD GROWTH SUBMARKET — OUTPERFORMING MULTIPLE MARKETS
— WITH DIRECT ACCESS TO DOWNTOWN’S JOBS + ENTERTAINMENT
• 2.3% Rent Growth (June 2024, YoY, St. Anthony-Ramsey | CoStar)
— Compare to: Downtown Minneapolis @ 0.6% | Metro @ 1.2%
— Austin, TX @ -5.2% | Phoenix, AZ @ -2.1% | National @ 1.1%
• 3.5% Average Rent Growth Projected for 2025 + 2026
• $111,348 Average Household Income (within 1 mile of EQUINOX)
• 7 Miles or Less to Major Employment Drivers + One-of-a-Kind Attractions:
— Headquarters of Target, U.S. Bank, + #1 Metro for Fortune 500s Per Capita
— Target Field (Home to MLB’s Minnesota Twins)
— U.S. Bank Stadium (NFL’s Minnesota Vikings, Super Bowl, Concert Venue)
• St. Anthony: A+ City @ Niche.com with A-Grade Public Schools
2. STRONG LEASE TRADE-OUTS (Since January 2024):
• 4.4% Rent Premium | Last 185 Leases (Since January 2024)
3. INSTITUTIONALLY-OWNED + MANAGED: $3.2M+ INVESTED IN EXTENSIVE,
INTELLIGENT CAPEX IMPROVEMENTS (2021- June 2024)
4. EQUINOX’S UNIQUE RENTER SELLING POINTS:
• WALKABLES — Cub Foods, Starbucks, Chipotle, Culver’s, Cold Stone Creamery
• Overlooks Silver Lake with Walking Trail, Boat Launch, Park, + Playground
• 2 Swimming Pools — Rare, Coveted Indoor + Outdoor with Sun Deck
• Catering Kitchen, Grilling Stations, + Double-Sided Fireplace Lounge
mortgage banking
$275+ — (79 CLASSIC UNITS)
$175+ PREMIUM — (88 PARTIAL R1 UNITS)
$50+ PREMIUM — (82 PREMIUM R2 UNITS)
$165+ PREMIUM, 23+% ROC
• Outdoor Swimming Pool with Brick-Paved Sundeck and Gazebo
• Indoor Swimming Pool
• Clubhouse with Entertainment Space, TV and Double-Sided Fireplace
Lounge, Catering Kitchen with Coffee Bar, and Shuffleboard
• Well-Equipped Fitness Center with Cardio and Weightlifting Equipment
and Free Weights
• New Grilling Stations and Patio Sitting Area
• New Dog Park
• Updated Laundry Facilities
• Playground
• Detached Garage Parking Available
• Controlled Access
• Beautifully Landscaped with Manicured Grass, Mature Trees,
Trimmed Shrubs, Flowering Plants, and Lushly Filled Pots and Planters
• Park-Like Setting with Walking Trail and Courtyard
• Within Walking Distance of Public Transportation (Metro Transit Bus
line), Market, and Restaurants
• Close to Silverwood Park, Silver Lake, Schools, Stores, and
Entertainment Options
• Convenient Access to Interstates 35W and 694, State Routes 36 and
65, Metro Transit Rail Station, University of Northwestern – St. Paul,
University of Minnesota, and Downtown Minneapolis
THE AMENITIES
dominick ens
Associate Director dominick.ens@berkadia.com
312.845.8512
RICHARD EVANS
Senior Director
richard.evans@berkadia.com
773.991.3321
(ALL 249 UNITS IDENTIFIED FOR LUXURY R3 RENO)
ATTRACTIVE POTENTIAL RENT INCREASES, POST-RENO:
