Jones Lang LaSalle Inc.
11/09/2026 | Press release | Distributed by Public on 11/09/2026 10:18
202-unit luxury multifamily portfolio in Minneapolis suburb trades hands
Key Takeaways
- JLL Capital Markets arranged the sale of Aura and Altair Apartments, a 202-unit luxury apartment portfolio in Fridley, Minnesota
- The portfolio comprises Aura (107 units, 55+ active adult) and Altair (95 units, conventional), both delivered in 2021
- The properties are 95% occupied, driven by robust renter demand
- Fridley's supply-constrained submarket positions the portfolio for strong continued performance in one of the nation's top-performing multifamily markets
MINNEAPOLIS, Nov. 9, 2026 - JLL Capital Markets announced today that it has completed the sale of Aura and Altair Apartments in Fridley, Minnesota.
The portfolio comprises two Class A properties totaling 202 homes: Aura, a 107-unit active adult (55+) community, and Altair, a 95-unit conventional multifamily property. Both properties were delivered in 2021. Fully union-built assets, both communities boast the highest-quality construction standards, featuring premium home finishes and deluxe amenity packages. With their podium-built construction and high-barrier-to-entry nature, Aura and Altair represent a truly irreplaceable portfolio of assets in today's cost environment.
The portfolio represents a synergistic pairing of 55+ active adult and conventional product, in a rare urban-suburban location. Its gateway location between the North suburbs and Minneapolis deliver a strong set of demand drivers, connectivity to major roads and transit, and unprecedented access to top Twin Cities employment.
JLL's Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Josh Talberg, Director Joseph Peris and Associate Elijah Smith.
"Aura and Altair's 100%-union-built quality, coupled with its prime location in Fridley, make it an irreplaceable investment opportunity in the North metro submarket," said Talberg. "Anchored by Medtronic's World Headquarters, the surrounding area has distinguished itself as one of the nation's most concentrated med-tech and life sciences employment corridors."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
About JLL
JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of approximately 112,000 as of September 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.
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