Blaise

JLL is pleased to present Blaise Apartments — a stabilized, 51-unit community in Minneapolis' vibrant Whittier neighborhood. Delivered in 2021 by Frana Companies, a premier regional builder with over $5.3 billion in construction history, Blaise represents institutional-quality new construction offered for the first time by its original ownership. The property operates at 96% occupancy and features premium finishes throughout, including 9-foot ceilings, in-unit washer/dryer, walk-in closets, marble countertops, and luxury vinyl tile flooring.

Blaise benefits from an irreplaceable location at the heart of Eat Street, Minneapolis' internationally recognized dining corridor, just steps from the Minneapolis Institute of Art (MIA), Minneapolis College of Art and Design (MCAD), and roughly a mile from downtown Minneapolis. The neighborhood commands a 91 Walk Score and 96 Bike Score, with direct access to the Nicollet Avenue transit corridor, or the future route of Metro Transit's K Line bus rapid transit, slated to open between 2030 and 2035.

The asset presents compelling fundamentals. In-place rents average $1,059, sitting $57 below market at $2.39 PSF, framing a clear, low-risk mark-to-market opportunity as leases roll through the prime leasing season. Additionally, 20 units are enrolled in Minneapolis' 4d affordable housing program, delivering a transferable property tax reduction of approximately 31% beginning in 2027, which is a rare, quantifiable NOI enhancement that flows directly to the buyer.

Offered at approximately 16% below today's replacement cost in a submarket with zero units under construction and a Twin Cities pipeline running ~27% below the national average, Blaise delivers stabilized cash flow, embedded rent growth, and a durable tax advantage. JLL invites qualified investors to pursue this compelling studio opportunity in one of the Midwest's premier multi-housing markets.