Sale and financing arranged for luxury Twin Cities apartment community

MINNEAPOLIS, Dec. 10, 2025 –  JLL Capital Markets announced today that it has secured the sale and financing for Aster Apartments, a luxury multifamily community in the Twin Cities’ desirable north suburbs of Coon Rapids, Minnesota.

JLL represented the seller and secured acquisition financing on behalf of the buyer, MLG Capital.

Aster Apartments, located at 3130 Northdale Blvd NW in Coon Rapids, offers residents a rare, walkable urban-suburban setting with immediate access to the Riverdale retail hub. The property sits within minutes of major highways including Highway 10 and Highway 169, providing convenient connectivity to downtown Minneapolis and the greater Twin Cities metro area.

Coon Rapids continues to be a thriving north metro community with strong population growth, excellent schools and proximity to major employment drivers, including the expanding Highway 610 medical technology corridor. The area boasts strong investment fundamentals due to its favorable supply and demand dynamic.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Directors Josh Talberg and Joseph Peris. JLL Capital Market’s Debt Advisory team was spearheaded by Senior Managing Director Matthew Schoenfeldt, Senior Director Patricia Heminger, Vice President Rebecca Mitchell and Analyst Ryan Planek.

“An award-winning property built by one of Minnesota’s premier developers, Aster’s premium quality shines through its superior residences and community amenities,” Talberg stated. ”We’re excited for the MLG team and their expansion within Minnesota with the purchase of Aster. We continue to feel encouraged by investor activity for Twin Cities assets; the Minneapolis-St. Paul metro has become a spotlight multi-housing market nationally, and we are witnessing it through continued strong capital flows on our recent listings.”

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.

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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.

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 totaling ±50.9 million square feet of total space across the United States, inclusive of more than 44,200 multi-family units. The firm and associated entities actively owns, or have exited, investments totaling ±$7.9 billion as of 6/30/2025.