BLOOMINGTON, MN-Timberland Partners, a group based in Bloomington, has acquired France 98, an apartment complex consisting of 120 units in Bloomington. The company has purchased the apartment complex from Sioux Falls, South Dakota-based Great Western Bank for an amount of $11.55 million.
The site, originally developed for condominiums, changed into rental units. The investors purchased the property for $16 million in 2006 hoping to turn it into condos, but their plan never realized.For the full story, go to Minneapolis/St. Paul Business Journal.
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