MINNEAPOLIS, Aug. 17, 2015 /PRNewswire/ -- The Minnesota AIDS Project (MAP) announced today that it has completed the sale of its office building and property at 1400 Park Ave. South in Minneapolis to Weidner Apartment Homes. Founded in 1977, Weidner Apartment Homes is a privately held real estate company that owes its success to its most important resource - their people. As of June 30, 2015, there are 228 multi-family residential communities in the Weidner portfolio, representing 42,473 units located in ten U.S. states and four provinces of Canada. In addition, Weidner owns and manages approximately 249,000 square feet of commercial, retail and office space. Headquartered in Kirkland, WA, Weidner's commitment to delivering value drives its vision to distinguish the company as an industry leader in each of the markets they operate within. For more information, please visit www.weidner.com. Weidner Investment Services has hired Hunt Development to develop a 260-unit market-rate apartment building on the property.
Minneapolis-based Cushman & Wakefield/NorthMarq served as broker for the transaction. Terms of the sale were not disclosed.
Mike Cassidy, MAP Board Chair, said, "We are very pleased to announce this important transaction, which marks a major step in the transformation process we have undertaken to insure out organization's long-term success. Under an agreement with Weidner Investment Services, we will be able to stay in our current offices while we are in the process of identifying and securing a new headquarters facility that will be more accessible and allow us to serve our clients more efficiently."
The Minnesota AIDS Project (MAP) was founded in 1983 as a Minnesota nonprofit corporation. In partnership with more than 1,000 volunteers, MAP provides compassionate, confidential and non-discriminatory services, including practical, emotional and social support to more than half of the nearly 8,000 Minnesotans living with HIV. For more information, visit www.mnaidsproject.org
SOURCE Minnesota AIDS Project