Description

Frana-built, 100% union-constructed asset delivering unmatched quality in a boutique, upscale community with premium home finishes and amenities throughout
Rare offering by its original development team at an unbeatable basis, 35%+ below today's replacement cost
Sought-after location at the heart of Minneapolis' Eat Street corridor - a hyper-walkable, amenity-rich neighborhood with adjacent access to transit and major thoroughfares
Close proximity to the city's renowned Chain of Lakes, a premier quality-of-life driver
Within one-mile of Downtown Minneapolis, MN's employment and culture epicenter
Exceptional Twin Cities demographics with $132k average household income
Full market supply absorption coupled with a limited development pipeline underpins pricing power and property performance
100% current occupancy; accelerated growth opportunity supported by rent headroom relative to comps, strong neighborhood income, and clear supply/demand imbalance
Accretive 4d tax designation (20 units), reducing tax liability by $44k+ on the go-forward
Minneapolis is one of the top-performing apartment markets across the country; RentCafe's #1 most in-demand rental market in the U.S. for 1H 2026

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Attributes

Units

Occupancy

96%

Year built

2020

Rentable area

22,614 sf

Media

Investment highlights

Blaise is a fully-stabilized, 51-unit community in Minneapolis' vibrant Whittier neighborhood, representing institutional-quality, brand-new, construction offered for the first time by its original developer/deal team. The property operates at 100% occupancy and features premium finishes throughout.

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 - MN's industry and culture core.

The asset's $1,059 ($2.39/SF) average in-place rents present a highly-accesible monthly cost, plus substantial headroom relative to the competitive set, framing a clear mark-to-market opportunity to generate upside. Additionally, 20 units are enrolled in Minneapolis' 4d affordable housing program, which reduces the annual tax liability by $44k+ beginning in 2027 to enhance the going-in yield.

Offered at an unbeatable basis of 35%+ below today's replacement cost in a submarket with unprecedented supply constraints, Blaise delivers investors an opportunity to acquire an asset with immediate cash flow, embedded rent growth, and a durable tax advantage.