Argosy Real Estate Partners Acquires Site for Lexington Waters Residential Land Development Project in Blaine, Minnesota
We are pleased to announce that Argosy Real Estate Partners, in partnership with Twin Cities Land Development (“TCLD”), has closed on the first phase of Lexington Waters, a 111-acre residential land development project located in Blaine, Minnesota to be developed into 272 single-family lots. The partnership closed on the initial 68 acres and will close on the remaining 43 acres by February 2022. All lots at Lexington Waters are under contract to be sold to a national homebuilder active in the Minneapolis-St. Paul MSA.
Blaine is a high-growth, upper-middle-income community located approximately 15 miles north of downtown Minneapolis within the sought-after Anoka-Hennepin School District. Lexington Waters is located less than one mile northeast of two existing residential land development projects owned by Argosy and TCLD.
Twin Cities Land Development, formerly an affiliate of The Excelsior Group, is a full-service real estate firm based in Minneapolis specializing in residential land development. The TCLD team has decades of experience in real estate development, management and investment. TCLD has developed strong relationships with active homebuilders through their previous residential land development projects. Lexington Waters is the fifth residential land project developed in the Minneapolis MSA by Argosy and the TCLD principals.