
Helix Apartments
7450 MN-7, St. Louis Park, MN, 55426, US
167 units
Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker, is pleased to present the offering of Flux Apartments, a fully union-built, luxury 216-home apartment community located in Minneapolis' dynamic Uptown submarket, a legacy urban neighborhood. Flux represents an opportunity to acquire a proven, stabilized asset at a basis well below today's replacement cost. Constructed in 2012 and institutionally owned and operated, this well-maintained asset offers investors the rare opportunity to leverage proven property performance, today's submarket trendlines, and the extreme impending supply constraint to generate significant investment growth. Moreover, the asset is well-positioned for a value-add execution, allowing investors the ability to achieve an outsized return.
Flux's construction boasts clear attention to detail highlighted by its premier design and irreplaceable quality. With an amenity package that is second to none and top-notch unit finishes, Flux offers its residents a true luxury living product at an attainable monthly rate. Today's replication rents for a similar asset to Flux are ±$3.30, a substantial 78% growth compared to current rents, securely insulating the investment from future supply risk. The demand for Flux is robust and consistent, demonstrated by its strong average annual occupancy despite previous competing deliveries, and the muted supply pipeline on the go-forward represents a compelling pricing power thesis as the asset and submarket demand far outpaces market supply. This trend is already evident within Flux's leasing through its 7.6% blended growth between recent lease trade out and renewal activity.
The asset benefits from its main-on-main location in Uptown, a legacy Minneapolis neighborhood that is undergoing a transitional period. As yesterday's headwinds become a piece of the past, positive trendlines emerge for this time-tested community. With progress already beginning to materialize, the submarket presents a prime environment for investors to capitalize on today's tailwinds.
Irreplaceable Asset with Proven Performance
Unbeatable Investment and Upside
Legacy Submarket with Compelling Fundamentals