JLL arranges the sale of Twelve 501 Apartments in South Central Twin Cities suburb

MINNEAPOLIS, July 29, 2026 – JLL Capital Markets announced today it has closed the sale of Twelve 501 Apartments, a 336-unit multifamily community in Burnsville, Minnesota.

JLL represented the seller, FPA Multifamily and secured the buyer, Osso Capital, marking their first ever investment in Minnesota.

Twelve 501 Apartments is located in Burnsville's Heart of the City district, the city's vibrant downtown corridor featuring urban-style amenities and retail. With adjacent access to I-35W and I-35E, the property provides seamless connectivity throughout the Twin Cities placing residents within just minutes of M Health Fairview Ridges hospital, Park Nicollet Clinic Burnsville and many other major employers.

Built in 1986 and extensively renovated beginning in 2017, the asset boasts comfortably outfitted homes with large and spacious layouts, plus a wide variety of community amenities, garnering durable renter demand. The four-story property is nestled on a sprawling 14.62-acre site overlooking Birnamwood Golf Course and the beautiful overlay of the Minnesota River valley.

The JLL Capital Markets team was led by Managing Director Josh Talberg, Director Joseph Peris and Associate Eli Smith.

“The asset’s quality coupled with strong location fundamentals make this a standout investment and market entry-point for the Osso team,” said Talberg. “Twin Cities strong fundamentals continue to draw national attention, with ongoing new capital flows consistently entering the market.”

JLL’s Capital Markets group 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. The group 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. 

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 March 31, 2026. 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.

FPA Multifamily, a privately held real estate investment firm with over 40 years of experience, specializes in acquiring, managing and repositioning multifamily properties across the United States. With approximately $20 billion in assets under management, FPA Multifamily has transacted on approximately $30 billion worth of assets, including 870 buildings and over 174,000 units, showcasing their expertise in identifying and capitalizing on value-add and core-plus opportunities in major US cities.

Osso Capital (“Osso” or the “Firm”) is a private equity real estate firm that specializes in the acquisition and management of multifamily investments located throughout the U.S. Founded in 2020, Osso is headquartered in New York, NY and is privately held. The Firm is led by Olivia John, Founder & CEO, a former Managing Director on Blackstone’s Real Estate Acquisitions team where she completed approximately $12 billion of multifamily acquisitions during her 13-year tenure. Osso comprises 27 professionals organized across four integrated disciplines – investments; asset management; financing and accounting; and data and analytics – providing the Firm with the operational depth to source, execute, and manage investments with institutional rigor at each stage of the investment lifecycle. Since inception, Osso has successfully raised approximately $1.2 billion in capital commitments and deployed this capital across nearly $3 billion of multifamily investments diversified across U.S. markets. The Firm’s differentiated investment approach combines traditional real estate investing with an emphasis on sourcing relationships, operational expertise, and downside protection through a modern, data-driven framework that leverages proprietary analytics, automation, and technology to guide market selection, investment sourcing, and underwriting. As a trusted fiduciary, Osso has sponsored and managed investment vehicles on behalf of endowments and foundations, family offices, pension plans, and other financial institutions.