12300 Singletree Lane, Eden Prairie, MN 55344
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%