Argosy Real Estate Partners Acquires Site for Single-Family Build-to-Rent Project in Victoria, MN (Minneapolis-St. Paul MSA)
We are pleased to announce that Argosy Real Estate Partners, in partnership with Integrate Properties has closed on the first phase of an approximately 21-acre site in the Victoria submarket of Minneapolis, MN for the ground-up development of a 110-unit single-family build-to-rent community. Victoria is a growing suburb 20 miles southwest of Minneapolis that benefits from highly rated schools, desirable outdoor amenities and convenience to both downtown Minneapolis and the MSA’s primary suburban office markets.
The project will feature detached two-to five-bedroom single-family homes with open floor plans with an average unit size of 1,946 sf. With private yards and no shared walls, residents will maintain their privacy and enjoy the full benefits of a traditional single-family home. The project was acquired off-market from a local developer.
Argosy’s co-investor and operating partner is Integrate Properties, a Minneapolis-based real estate developer specializing in single-family residential and build-to-rent development. This is Argosy’s second investment in partnership with Integrate Properties.