MINNEAPOLIS, Dec 4, 2025 –  JLL Capital Markets announced today that it has secured the sale of the DECO Apartments, an 89-unit, Class A multi-housing property located in Shakopee, Minnesota’s historic downtown district.

JLL worked on behalf of the seller, Enclave. The buyer was LouMin Holdings, a local multifamily real estate investment firm. Enclave’s decision to sell was prompted by DECO’s strong performance, market dynamics and tax benefits generating strong investor returns.

The DECO, located at 129 Holmes Street S., offers residents a luxury living experience in a rare walkable and charming urban-suburban setting. Along with its premium homes, the property is highly amenitized, featuring a rooftop sundeck with grilling station, well-equipped fitness center, clubroom, ample underground parking and ground floor retail occupied by the popular Mana Brewing.

Shakopee’s residents enjoy access to Valleyfair amusement park, Canterbury Park, Mystic Lake and the nation’s top Renaissance Festival, plus the highly anticipated, upcoming delivery of the Shakopee Amphitheatre, a 19,000-seat venue that will be operated by Live Nation. The Shakopee Amphitheatre has already secured a number of major artists scheduled to perform in the summer of 2026. The growing demand for Shakopee living drives strong investment fundamentals as the city and broader southwest metro also present investors with a favorable supply dynamic going forward.

JLL Capital Market’s Investment Sales and Advisory team was led by Director Joseph Peris and Managing Director Josh Talberg.

“Enclave is a prolific investment firm that develops, constructs and manages high-quality multifamily product with strong cash flows in the Twin Cities, and we are grateful for the opportunity to represent their team on this transaction,” stated Peris.

“The Shakopee story has been a fun one to tell, and one that has been very well-received by the marketplace today,” Peris added. “This was a highly sought-after investment opportunity, and we’re excited for the LouMin team who is acquiring a great property in a location with compelling tailwinds for sustained performance.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

As a Fargo-based unified real estate investment firm, Enclave’s investment, development, construction and management teams create distinct spaces where our partners, team members and communities thrive. Specializing in multifamily and build-to-suit industrial developments across the Midwest and Mountain West, Enclave has grown to 250+ team members, completing over 150 projects representing more than $1.75 billion in assets under management since its founding in 2011. A 50 Best Place to Work for seven years in a row and counting, Enclave is an award-winning workplace comprised of empowered team members who share in Enclave's vision and support one another to do their best work. Additional information is available at enclavecompanies.com.

LouMin Holdings is a Minnesota-based multifamily real estate investment firm focused on acquiring, operating, and enhancing high-quality apartment communities across the broader Midwest. Founded with a commitment to disciplined underwriting and operational excellence, LouMin focuses on Class A and contemporary value-add assets located in markets with compelling population growth, income stability, and resilient rental demand. Driven by a hands-on ownership approach and a partnership mindset, LouMin consistently delivers enhanced performance, meaningful community impact, and long-term value creation for residents, lenders, and investment partners. Learn more at www.louminholdings.com.