NEWS BRIEF: Utah-based Peak Capital Partners Buys Two Minneapolis Area Apartment Complexes for $23 Million

One of Utah's most active real estate investors, Provo-based Peak Capital Partners, has purchased two affordable apartment complexes in the greater Minneapolis, Minnesota area for $23 million from Minnetonka, Minnesota-based Dominium.

According to a writeup by Finance & Commerce, the two apartment complexes purchased by Peak Capital Partners are

• Elm Creek Apartments, and
• Champlin Drive Apartments,

both based in Champlin, Minnesota.

Both apartment complexes consist of two buildings each, contain 72 apartments each, and they were built over 30 years ago.

According to its website, Peak Capital Partners

• Has been in business for 16 years,
• Has acquired over 58,000 "units" since its founding, and
• Has over 750 employees.

PUBLISHER'S NOTE

In case you're not aware of Utah Money Watch, our goal is to publish Utah-focused monetary, financial, and/or business news, context, and analysis on a timely/regular basis, ideally information NOT available through any other source.

[You might think of us at the opposite of Bloomberg, CNBC, and/or The Wall Street Journal, each of which focus on international/national news first and rarely report on local happenings. Conversely, we are passionately focused on uncovering the most important monetary, financial, and/or business news and information that impact the organizations and people of Utah.]

Here again, the intent is to publish news, information, context, and analysis NOT available through any other source.

To that end, this article was originally published and distributed to our Subscribers at approximately 8:25am (MT) on Friday, 12 July 2024.

However, if you are seeing this report sometime after this date/time and you are interested in seeing similar reports and/or other Utah-focused monetary/financial/business news, context, and analysis write-ups in the future on an instantaneous basis when they are published, you can do so by subscribing, FOR FREE, to Utah Money Watch.

This will take less than 30 seconds and can be done from any page on the Utah Money Watch website.

Simply,

1. Click on a "Subscribe" button on any Utah Money Watch webpage,
2. Enter in your name in the proper field in the popup window that appears on-screen, and
3. Enter your preferred email address in the proper field too.

That's it. And "Yes," it really is that simple.

And ... it IS free.

So we hope to see you join us as a subscriber of Utah Money Watch.

Thanks.

Team Utah Money Watch