Watertower Apartments

12300 Singletree Lane, Eden Prairie, MN 55344

Property Overview

Watertower Apartments is a pet-friendly 228-unit, mixed-use apartment community located in Eden Prairie, MN, just 16 miles southwest of the Minneapolis central business district. Built in 2004, this Class A property consists of two buildings: a three-story residential building with 10,065 square feet of retail space on one end and a four-story residential building that sits above a two-level heated parking garage.

A sky bridge connects the two structures. Units feature nine-foot ceilings, full size washers and dryers, pre-wired alarm system and spacious walk-in closets. Community amenities include a 24-hour state-of-the-art fitness center, basketball and racquetball courts, courtyard with patio furniture and BBQ grill, and an on-site restaurant.

Investment at a Glance

Location: Eden Prairie (Minneapolis), MN

Property Type: Apartment Community

Acquisition Date: January 15, 2013

Purchase Price: $38,375,000

No. of Buildings: 2

No. of Units: 228

Square Footage: 228,775 SF

Year Built: 2004

Leased Percentage (at the time of Acquisition): 94%

$38,375,000 Total Purchase Price
228,775 square feet Total Rentable Area
228 Units Apartment Community