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WOODBURY, MN-Multifamily property brokers Moran & Co. recently closed the sale of Woodlane Place Townhomes, a class A apartment community in this suburb southeast of St. Paul.

Chicago-based Henderson Global Investors purchased the 216-unit Woodlane Place from Equity Residential for an undisclosed sum. The deal included the assumption of $14 million in tax-exempt bond financing issued by Washington County. Leslie Andren, partner at Chicago-based Moran & Co., represented the seller in the transaction.

Located near the Valley Creek Interchange and I-494, Woodlane Place offers a variety of floor plans with attached garages for every apartment. Ranging in size from 1,207 sf to 1,687 sf, apartments offer two or three bedrooms and one to two baths.

The units also feature master bedrooms, wood-burning fireplaces, full-size washers and dryers, vaulted ceilings, patios and kitchens with pantries and microwave ovens. Common area amenities include an outdoor pool and tennis court, children’s playground and pond views in some locations.

Located southeast of St. Paul, the city has quadrupled in population from 10,000 residents in 1990 to 47,000 in 2000. The Twin Cities are home to numerous Fortune 500 companies and expanding high-tech and service industries. “Woodbury is an upper middle-class suburb of St. Paul and has undergone a lot of development recently,” Andren says.

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