Miro Apartments

Jones Lang LaSalle ("JLL"), a licensed real estate broker, is pleased to present Miro, a 127-home apartment community located in the Bryn Mawr/Harrison neighborhood of Minneapolis. Completed in 2024, the property offers spacious floorplans and sits just blocks from downtown Minneapolis, Target Field, Theodore Wirth Regional Park, and the Minneapolis Chain of Lakes, with top employers including Target, U.S. Bank, Wells Fargo, and Xcel Energy minutes away.

Miro features a top-tier amenity package, including a 24-hour fitness center, rooftop deck with skyline views, resident clubroom, and heated parking, paired with luxury finishes such as quartz countertops and stainless-steel appliances. The asset is offered at a 50% discount to replacement cost, with market rents needing to rise over 87% before new competing supply could be feasibly delivered. The surrounding submarket boasts an average household income of $119,535, with an average home sale price of $506,259 over the last month, supporting a sticky resident base and sustained rent growth potential.

Since 2010, population growth has outpaced apartment deliveries, and only 475 units are currently under construction within a three-mile radius of Miro. Minneapolis-St. Paul effective rent growth year-over-year has outpaced the national average, reinforcing continued upside for multi-housing investments in the market. At the asset level, the immediate comp set supports rent increases of $300+ per unit with operations primed for revenue growth.

JLL invites qualified investors to capitalize on this opportunity to acquire a new-construction, cash-flowing Minneapolis asset at a compelling discount to replacement cost, with favorable supply dynamics positioning Miro for the market's next cycle.