Real Estate

Burnsville Complex Sold for $31 Million

Southwind Village Apartments, a complex just off of Crystal Lake Road West, has officially changed hands.

A luxury apartment building in Burnsville has been acquired by a San Francisco investment company for the princely sum of $31.3 million.

According to the Minneapolis-St. Paul Business Journal, a company called Virtú Investments closed on the 320-unit property last week. The seller, Southwind Apartments LLC, is based out of Eden Prairie.

Virtú has over $1 billion in real estate holdings across the U.S. mostly concentrated on the west coast. The company has acquired new properties at a quick clip, closing on four apartment complexes in December 2012 alone.

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 Southwind is described as "an Alpine Village in the heart of Burnsville," which combines the amenities of townhome living with the convenience of apartment life. The complex is the third large multi-family property to be sold in the last six months. Burningham and The Woods were sold in late 2012. 


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