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Downtown Minneapolis office towers sell at steep discount

Property:

Category: Acquisitions

Date: September 24, 2024

In 2019, DRA Advisors dropped $73.7 million for more than 630,000 square feet of office space in downtown Minneapolis. Five years later, DRA sold the same property for 91% less than what it bought the space for.

An entity in Great Neck, New York, called Namdar Realty Group has purchased the two office buildings located at 900 and 920 Second Ave. S. for $6 million from a group related to DRA Advisors called G&I IX OIC LLC. Read more at Finance & Commerce.