ARTISAN Acquires Shoreview Hills Apartments in Shoreview, MN

ARTISAN Capital Group ("ACG") is pleased to announce the acquisition of Shoreview Hills Apartments, a 240 unit garden style apartment community in Shoreview, Minnesota, a northern suburb of the Twin Cities. ACG partnered with Equity Resource Investments on the transaction, which marks ACG's second acquisition in the Minneapolis market.

Built in 1970 and situated on nearly 18 acres, Shoreview Hills offers a mix of studio, one bedroom, two bedroom, and three bedroom units. Community amenities include an indoor pool, sauna, and garage parking. The property sits directly across the street from Boston Scientific's 4,700 employee campus and near the Land O'Lakes headquarters, with Bethel University and the Lexington Avenue retail corridor close by.

ACG plans to enhance the resident experience at Shoreview Hills through interior unit renovations, building and site improvements, and new community amenities including a fitness center, grill stations, pickleball court, and dog park. ARTISAN Management Group ("AMG"), ACG's management vertical, will oversee operations at Shoreview Hills and bring a hands on, resident focused approach to the community.

"Shoreview Hills offers an opportunity to own in an excellent Twin Cities suburb with top schools and employment drivers," said Sean Fogarty, Partner at ARTISAN. "We see a clear path to improving both the resident experience and the performance of the asset."

Ryan Cahalan, Partner at ARTISAN, added, "Growing in the Twin Cities has been a priority for us, and Shoreview Hills gives us real scale in the market alongside our nearby property Equinox."

ACG secured favorable financing through West Bank, which will support the business plan and the planned improvements to the community.

About ARTISAN Capital Group:

ARTISAN Capital Group presently owns and manages affordable, market-rate, and student housing communities across eight states. ACG has grown its portfolio to nearly 7,300 apartment units since the company was formed in 2017 with a current AUM of approximately $1.2B. ACG is headquartered in Chicago, IL, with a regional office in Des Moines, IA, which it shares with its property management vertical ARTISAN Management Group.