New York investor buys 336-unit Burnsville complex
Osso Capital, a New York private equity real estate firm, bought the 336-unit Twelve 501 Apartments in Burnsville, marking the firm's entry into the Minnesota market.[1]
The complex at 12501 Portland Ave. sits on about 15 acres and includes 336 units.[1] It was built in 1986, renovated in 2017, and was about 97% occupied when it was marketed.[1] Seller FPA Multifamily bought the property in early 2017 for $35.35 million, and Dakota County now assesses it at roughly $47.2 million.[1]
FPA Multifamily's 2017 purchase and renovation refreshed the asset shortly after it changed hands, which helped sustain high occupancy ahead of this sale.[1] The combination of recent upgrades and the property's suburban location made the complex attractive to an out-of-state buyer seeking stabilized multifamily investments.
Osso Capital did not publicly disclose the purchase price in initial reporting, and further details about the firm's plans for the property have not been released.[1]
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📌 Key Facts
- Osso Capital, a New York private equity real estate firm, bought the 336-unit Twelve 501 Apartments in Burnsville.
- The complex at 12501 Portland Ave. sits on 15 acres, was built in 1986, renovated in 2017, and was 97% occupied when marketed.
- Seller FPA Multifamily bought the property in early 2017 for $35.35 million; Dakota County now assesses it at about $47.2 million.
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