MINNEAPOLIS-American Campus Communities Inc., based in Austin, Texas, has acquired University Commons, an off-campus housing community consisting of 480 beds at 621 Huron Blvd. in Minneapolis, for $31 million. The property, constructed in 2003, is situated near the University of Minnesota.
University Commons has a community center with a business, fitness center, spa and a game room with gaming consoles and pool tables. Fulton Ave Commons Mpls was the seller. American Campus is planning to spend $1.8 million to improve the property. For the full story, go to Minneapolis/St. Paul Business Journal .
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