MINNEAPOLIS, MN - Weidner Apartment Homes, a global real estate investment and property management company also recognized as a developer of multifamily housing, acquired the mixed-use high-rise LPM Apartments in Minneapolis, MN.
LPM Apartments is located at 1369 Spruce PL Minneapolis, MN 55403, in the downtown Loring Park neighborhood, which holds Minneapolis’s largest urban park. The community has 354 units, stands at 36 stories, and is an architecturally significant tower as its the tallest rental building in Minnesota.
This acquisition strengthens Weidner’s presence in the Minneapolis/St. Paul rental market to 4,846 units. LPM Apartments is less than three miles from Weidner’s six other downtown Minneapolis assets, including Weidner’s new construction project with Ryan Companies, 4th & Park Apartments, in the Downtown East neighborhood. The soon-to-be 25-story mixed-use development is the company’s participation in Minneapolis’s Downtown East Redevelopment Project as the city’s core makes a fast-paced post-covid rebound.
LPM offers 19,478 square feet of retail space on the ground floor for four storefronts. The property is within walking distance of the upscale grocer Lunds & Byerly’s, numerous restaurants, and the Central Business District, home to over a dozen Fortune 500 companies.
The tower holds 18 floor plans of studio, one, two, and three-bedroom homes ranging between 674 to 2,506 square feet. Each home boasts high-end finishes, and the units are complemented by floor-to-ceiling windows and spacious balconies, which can extend up to 27 feet long and showcase views of downtown and Loring Park. The amenities are expansive, with 40,000 square feet of thoughtfully designed indoor and outdoor recreational areas, including media and game rooms, an indoor dog playroom with an accompanying dog wash, indoor and outdoor pools and hot tubs, and sauna and steam rooms.
Weidner Apartment Homes is the current owner and manager of LPM Apartments and is eager to continue growing with the redeveloping downtown Minneapolis market and provide the community with high-end, quality rental homes.
About Weidner Apartment Homes: Founded by W. Dean Weidner in 1977, Weidner Apartment Homes is a real estate investment and management company, recognized industry-wide as an efficient provider of quality rental homes and a creative developer of new housing. To provide the benefits of regional and economic diversity, their properties are located in Alaska, Arizona, Arkansas, California, Colorado, Minnesota, North Dakota, Oklahoma, Texas, Utah, Washington, Wisconsin, and Canada. The company is headquartered in Kirkland, WA. For additional information, visit www.weidner.com or e-mail info@weidner.com.