Premium apartment asset sells in Twin Cities' thriving northwest submarket

MINNEAPOLIS, Feb. 18, 2026 –  JLL Capital Markets announced today that it has arranged the sale of Lyra at Riverdale Station, a luxury 180-unit multifamily community in the Twin Cities' north suburbs of Coon Rapids, Minnesota.

JLL represented the seller in the transaction and procured the buyer MLG Capital. Acquisition financing was secured by assuming the property’s existing HUD loan, which was placed and is serviced by JLL.

Lyra represents the counterpart asset to Aster, which JLL sold in December 2025. Together, these assets comprise the dual-asset master development within Coon Rapids’ desirable Riverdale Station corridor, a central hub offering rare urban-suburban walkability to retailers, restaurant and grocery, plus strong connectivity to Minneapolis, St. Paul and the broader metro. The location’s demand tailwinds and compelling supply forecast help drive investment fundamentals for these high-quality assets.

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

“Congratulations to the buyer and seller of Lyra. We’re excited for the MLG team to add additional scale in this pocket,” said Talberg. “The robust investor demand we’re seeing for Twin Cities properties reinforces our view that the market remains a national focal point for multifamily investment in 2026.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

MLG Capital is a sponsor of private real estate funds targeting investment from investment advisors, family offices, and accredited individuals.

The firm and associated entities have active, exited, or currently pending investments totalling ±54.7 million square feet of total space across the United States, inclusive of more than 48,000 multi-family units. The firm and associated entities actively own, or have exited, investments totaling ±$8.6 billion as of 12/31/2025.