News release

Minnesota multi-housing community sells for $65.158M

JLL Capital Markets arranged the sale and acquisition financing for the 255-unit Beyond Apartments in Woodbury, Minnesota

March 17, 2022

Jenna Sharp

Property Management and Capital Markets
+1 214 438 6450

MINNEAPOLIS, March 17, 2022 – JLL Capital Markets announced that it has closed the $65.158 million sale and arranged acquisition financing for Beyond Apartments, a 255-unit, mid-rise multi-housing community located in the Minneapolis-St. Paul suburb of Woodbury, Minnesota.

JLL marketed the property on behalf of the seller, Roers Companies. Affiliates of MLG Capital acquired the asset. Additionally, working on behalf of the new owner, JLL secured the 10-year, full-term interest only Fannie Mae loan near stabilization. The loans will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.

Built in 2021, Beyond Apartments features studios, one-, two- and three-bedroom units with stainless steel appliances, quartz countertops, full-size washers and dryers, balconies, spacious bedrooms and an average size of 778 square feet. Community amenities include underground parking, a sky lounge patio, a pet wash, a coworking lounge, a fitness center and golf simulator.

Located at 455 Karen Dr., the property is one mile from I-94 and a 15-minute drive from top employers in downtown St. Paul, providing residents an easy commute. It is also less than a 10-minute drive to 3M headquarters. The property is proximate to recreational activities at Como Park Conservatory, St. Croix River, Afton Alps and Lake Elmo Reserve, as well as retail options at Tamarack Village, Woodbury Lakes and Woodbury Commons.

The JLL Capital Markets Team representing the seller was led by Managing Directors Mox Gunderson, Dan Linnell, Josh Talberg, and Senior Director Adam Haydon. Senior Director Scott Streiff and Managing Director Brock Yaffe led the JLL Capital Markets Debt Advisory Team representing the borrower.

“Beyond Apartments offers a fully amenitized living experience in the rapidly growing city of Woodbury,” Gunderson said. “The property witnessed a rapid lease-up evidenced by reaching 75% physical occupancy within four months of receiving its certificate of occupancy in November 2021. The buyer was able to capitalize on this opportunity early with a clear path to stabilization.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Roers Companies

Roers Companies is a top multifamily real estate developer based in Minnetonka, Minn. with more than $1 billion developed in just 10 years. Roers Cos. has built more than 5,000 market-rate, affordable, active 55+, student and senior housing units in six states, and is currently on pace to reach 20,000 units nationwide by 2025

About MLG Capital

MLG Capital is the premier outsourced investment manager in private real estate for investment advisors, family offices and accredited individuals. Since its inception in 1987, the firm and associated entities have had active, exited, or pending investments totaling approximately 32.3 million square feet of total space across the United States, inclusive of more than 27,300 apartment units, with exited and estimated current value exceeding $4.1 billion, as of 12/31/2021. MLG Capital targets to acquire $1 billion in commercial real estate annually; with approximately half of those acquisitions involving strategic partners. For more information about MLG Capital and its investments, visit the firm’s newsroom.

For more information, contact:
Katie Whitlock, Public Relations
Laughlin Constable