Multifamily Group Announces Sale of 26 Story High Rise

PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Amanda Throldahl
+1 952 656 2800
[email protected]
CBRE’s Multifamily Group Announces Sale of
26 Story High Rise in Downtown Minneapolis
Minneapolis – December 22, 2014 -- CBRE announced today that it has closed the sale of the
26-story, high rise Symphony Place Apartments in downtown Minneapolis. Abe Appert, Keith
Collins and Laura Hanneman of CBRE’s Minneapolis office represented the seller, Chicago based
Waterton Associates L.L.C. The purchaser was MLVI Symphony Place Apartments, LLC, an
affiliate of CASA Partners VI, LP, a closed-end multifamily real estate fund sponsored by TIAACREF Alternatives Advisors, LLC.
Symphony Place was built in 1983 with 250 apartment homes ranging from one bedroom units at
718 square feet to two bedroom units at 1,188 square feet. There is also some commercial space
on the first and second floor. Community amenities include a seventh floor clubhouse with rooftop
sun deck, indoor swimming pool, whirlpool spa, steam room, tennis court, basketball court,
business center, conference room and attached parking. Symphony Place also has convenient
skyway access, and is steps away from world class restaurants, shopping, and major employers
such as Target headquarters.
“The acquisition of Symphony Place Apartments is consistent with our integrated approach to
value-add apartment investments,” said Brian Eby, Senior Director, Transactions & Financing,
TIAA-CREF Global Real Estate. “Symphony Place will undergo a significant capital investment
program to elevate the resident living experience by renovating the unit interiors and common
area amenities, along with making modifications to the street level façade.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is
the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The
Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners,
investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers
strategic advice and execution for property sales and leasing; corporate services; property, facilities and
project management; mortgage banking; appraisal and valuation; development services; investment
management; and research and consulting. Please visit our website at www.cbre.com.
About TIAA-CREF
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $840 billion in total assets
under management (as of 10/1/2014) and is the leading provider of retirement services in the academic,
research, medical and cultural fields.
TIAA-CREF Alternatives Advisors, LLC is a registered investment advisor and wholly owned subsidiary of
Teachers Insurance and Annuity Association (TIAA).
TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and
Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. C20952

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