COMPANY PROFILE www.alatusllc.com
TABLE OF CONTENTS OUR COMPANY
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Our Team
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Multi-Family Development
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Single-Family Development
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Commercial Development
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DEVELOPMENT PIPELINE Rochester 2nd Street Apartments
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IronWood Apartments
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200 Central Condominiums
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228 12th St S Apartments
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Arden Hills Master Development
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Roseville Garden Station
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Parkside at Humboldt Greenway
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DIVESTED PROPERTIES Latitude 45
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Mayo Clinic Square
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Grant Park Condominiums
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The Carlyle Condominiums
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7West Apartments
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Minneapolis Parking
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MyHomeSource – Home Rehabilitations
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The Summit of Mendota Heights
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OUR COMPANY Headquartered in Minneapolis, Minnesota, Alatus, LLC was founded in 2005 with the goal of revitalizing communities through the planning, design and construction of transformative projects. Known for its dedication to excellence, Alatus is a leader in multi-family as well as mixed-use, commercial, and singlefamily residential real estate developments. The company also includes MyHomeSource, LLC, which is dedicated to single-family home construction throughout the Twin Cities metro. With numerous, award-winning urban and suburban developments, Alatus brings more than 30 years of real estate, design, and construction experience to each project and proudly partners with clients and communities throughout the Upper Midwest. Alatus is the ancient Greek word for “to take flight”, or “to look beyond”. We do both, delivering projects and performance that are consistently above and beyond the expected, while continuously searching the horizon for new opportunities.
Our mission is to provide innovative solutions and high-quality projects for the clients and communities we serve.
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INTEGRITY
QUALITY
FORESIGHT
We foster communities and grow relationships based on our core values. We are committed to proactively working with all affiliated entities, partners, community stakeholders, and the industry at large to deliver best in class projects that best serve the needs of the greater community and compliment the neighborhoods we reside in.
We believe in meticulous design and attention to detail. The pursuit of excellence and high professional standards in all facets of operations and mannerism is vital to the livelihood of our success. Our track record in producing first-class projects is proven by the success and longevity demonstrated in our portfolio. Our passion is to deliver outstanding residential properties that redefine expectations.
We exceed expectations. “Vision” best describes our primary asset in our development projects. We leverage our decades of expertise and market savvy to identify premier, under-utilized locations to transform. We continuously apply innovative ideas and technologies in design and construction to produce timeless yet forward-thinking results to delight generations to come.
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OUR TEAM Bob founded Alatus LLC in 2005 and serves as its Principal. Bob has been in the real estate development
Bob Lux
and investment business for over 30 years. He has been involved in numerous housing, office, and industrial projects. As co-founder and Principal of APEX Asset Management from 1993 to 2007, he was active in the business of property acquisition, disposition asset management, and the organization and management of investment programs. In the 1980s, he was Local Managing Partner of Trammell Crow Residential Minnesota where he was responsible for all of the development, construction, and management of Trammell Crow’s Minnesota residential portfolio. Identified as one of Twin Cities Business Magazine’s Top 100 People to Know in 2017, he serves as a Chair of the Minneapolis Convention Bureau (MEET Minneapolis), Co-Chair of the Destination Transformation 2030 master plan, and as a board member of the Minneapolis Downtown Council. He has served previously as a Director of Minnesota Multi-Housing Association, NAIOP, and is an active member of the Minnesota Chapter and Urban Land Institute.
Principal
Vishal Dutt
Chris Osmundson
Alex Polinsky III
Mark Stenglein
Chief Financial Officer
Development Director
Director of Construction Services
Government Relations Director
As Chief Financial Officer, Vishal Chris is responsible for leading After 17 years with Edward R. Mark Stenglein is a leader who oversees and directs all financial aspects of the company. As a seasoned financial executive, Vishal has more than 15 years of experience in both commercial development and real estate. As a strong leader and change advocate, Vishal has successfully transformed accounting and financial departments into wellorganized and efficient systems and teams. Through several leadership positions including Corporate Controller, Director of Finance, and Asset Manager at many renown real estate development firms, Vishal commands a full perspective of organizational best practices in finance and operations.
the Alatus commercial and multifamily real estate portfolio of projects through all facets of the development cycle. This includes project sourcing, initial financial modeling and feasibility analysis, entitlement and approvals processes, design and architectural review, and construction overview and progress tracking, as well as debt and equity placement and execution. Prior to joining Alatus, Chris was a Development Associate with Dominium Development and Acquisition. There, Chris closed numerous projects and honed his expertise in affordable housing programs including Section 42 LIHTC and Section 8.
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James Homes, Polinsky joined Engelsma Construction Inc. as a Business Development and Project Manager. In 2002, Alex helped to establish and grow E.R. James Homes Minnesota, LLC. As Managing Director, he was responsible for project management coordination and execution of over 950 highquality residential units and $380 million dollars of construction activity. Polinsky grew the Minnesota division by recruiting and managing a team of twelve real estate professionals in the areas of residential construction, interior design, and project management.
drives the development and delivery of solutions that serve the needs of clients and constituents. As a County Commissioner, entrepreneur, and leader of a business association, Mark led wideranging initiatives that include constructing the Minnesota Twins Ballpark, consolidating the Minneapolis Public Library System, increasing membership while reducing overhead in the Minneapolis Downtown Council, and building a successful Executive Suite business. Mark specializes in transforming ideas into reality by envisioning how existing resources can be used to address individual and community needs
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OUR TEAM Ashley Bisner Development Associate
As a Development Analyst/Associate, Ashley specializes in the analysis of affordable housing projects and supports all aspects of the development cycle for all affordable and market-rate projects. Areas of focus include project sourcing, financial modeling, market study reviews, and debt and equity execution. Ashley is also responsible for implementing and tracking new development processes and Alatus’ pipeline monitoring. Prior to joining Alatus, Ashley was a Senior Financial Analyst with WNC & Associates, Inc. on the affordable housing syndication team.
Carla Dunham Development Associate
Carla supports the Executive Development Team in vetting and implementing multi-faceted real-estate development and investment strategies throughout all project phases (market research, site acquisition, contracts, programming, design, financing, construction, leasing/marketing). She manages third-party and vendor relationships, and also coordinates daily real estate development operations and communications to ensure projects progress on schedule and within budget. Carla also has expertise in marketing, sales, and customer service and serves as owners’ representative to oversee third-party property management/leasing for Alatus’ residential multi-family real estate developments.
Jessa Lux Development Associate
Jessa is a Development Associate for Alatus with a focus on for-sale developments. She supports the development team through project management and coordination throughout the life of for-sale projects. Jessa has a background in marketing and also contributes to marketing and branding efforts at Alatus. Prior to joining Alatus, Jessa was the Director of Membership and Sales at Maroon Creek Club in Aspen, Colorado and a Web Developer for encoding.com. Jessa received her Bachelor of Business Administration (BBA) from the University of Wisconsin – Madison with double majors in Entrepreneurship and Marketing.
Bruce Rohde Owner’s Representative
Bruce serves as on-site owner’s rep for Alatus developments in Rochester, MN. Bruce has lived and worked in the Rochester community for 30 years. He came to Rochester to work for Mayo Clinic as Project Manager. He worked at Mayo Clinic for over 26 years as a Project Manager and also lead their Facilities Project Services division as Chair for 15 years. After retiring from Mayo, Bruce served as the Executive Director for a new senior living community, The Waters on Mayowood - he was responsible for the completion of the project, staff recruitment and training, opening the building and resident occupancy.
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OUR TEAM Kirsten Neumann Human Resource Generalist
Kirsten started her career at The Emmerich Group as their Operations Manager. She managed all bookkeeping, HR and operational functions there. In addition, she spent some time consulting their professional banking clients. She started at Alatus in 2008 as their Office Coordinator, assisting in getting the business operational in its early stages. In 2010 became the Operations Manager for MyHomeSource and was responsible for creating the processes and systems that pushed the division forward. In 2012, she transitioned to an HR Administrator role. She currently manages all Human Resource functions for Alatus. In 2014, she received her PHR (Professional in Human Resources) certification.
Ben Dawson Controller
Ben serves as Controller for Alatus, LLC and all related company endeavors. He is responsible for corporate accounting, and guides financial decisions by establishing, monitoring, and enforcing organizational policies and procedures. Ben protects company assets by establishing, monitoring, and enforcing internal controls. He maintains company-wide and project-specific financial conditions by conducting audits and prepares internal, regulatory, and external 3rd-party reports.
William Lage Staff Accountant
William analyzes financial data in order to prepare financial reports for Alatus and all related entities and projects. He generates and interprets financial records and statements for management. William maintains records of assets, liabilities, profit and loss, tax liability, and other financial activities of the organization.
Barrett Corwin Financial Analyst
Prior to joining Alatus, Barrett was an Associate within Newmark Grubb Knight Frank’s Hospitality Capital Markets Group, where he specialized in underwriting real estate projects and managing commercial real estate transactions. As a member of the Capital Markets team, Barrett’s responsibilities included but were not limited to financial modeling & pro-forma analysis, property-level due diligence, market research, the preparation of offering memoranda & broker opinion of value, and the placement of debt & equity.
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OUR TEAM Nick Reimler Construction Manager
At Alatus, Nick has managed over 200 single-family housing projects over the last several years. His areas of focus include budgeting, bidding, and tracking projects from start to finish. He directs 3rd-party General Contractors and Sub-Contractors throughout the process. Nick is also licensed Realtor and has over 10 years of experience in property management, real estate, new construction, and commercial construction.
Thomas Hertzog MHS Development Associate
Thomas performs in-depth market research on single-family home construction. He works directly with the executive team and construction and sales managers to shape project goals and integrate socially-aware practice into development decisions. Thomas is entering the development field with a background in psychology and community organizing, where he honed his skills in turning raw data into concrete decisions. His previous experience includes fostering network ties and developing strategic communication for the Southeast Como Improvement Association, Wirth Co-Op and other small businesses. Thomas brings a client-focused approach that prioritizes long-term relationships as the key to success.
Sheri Rivera Sales Manager / Realtor BHHS
Sheri has been in the real estate industry for over 22 years with expertise in new construction, corporate relocation, home buying and selling, investment property and property management. In 1995, she joined Pulte Homes of Michigan and oversaw the success of many new construction neighborhoods, selling some out in only a few months. In 2000, she left Pulte to start her own real estate investment company that includes rental properties and property management. She has remodeled and sold many homes throughout her career.
Jamie Pike Office & Construction Coordinator
Jamie is an administrator with 6 years of real estate and client services experience. She has a strong attention to detail and cares deeply about customer service, giving her a passion for administration and office management. As Construction Coordinator, she provides administrative, clerical and logistics support for the Construction Services team as needed, and generally facilitates and assists in the management of the project plans, stakeholders, communications, project team, project risks, schedules, budgets, conflicts, and project delivery throughout the construction cycle.
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MULTI-FAMILY DEVELOPMENT Alatus has participated in the development of some of the most influential and transformative multi-family properties in downtown Minneapolis including The Carlyle Condominiums, Grant Park Condominiums, and Latitude 45 Apartments.
Our roots are founded in developing best-in-class A multi-family residential properties. Our passion is to develop and deliver outstanding luxury apartment and condominium products to the region and to set high standards of quality and service for residents. Alatus strives to incorporate new and innovative techniques to our development and construction processes to redefine expectations for urban living in the Twin Cities. In our developments, we oversee all facets of the project including design, construction, finishes, accounting, and leasing to ensure standards of excellence are met.
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key component of success also includes
assembling the right, unique team and partners for each project. Our strategy is to find those key players and bring multi-faceted expertise to the table at early stages to help inform the development from many different industry perspectives and establish realistic plans based on current market realities and future trends. As a responsible developer, it is our job to meet the expectations of the market now and to also anticipate the demands in coming years as the region continues to grow and attract new downtown residents.
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SINGLE-FAMILY DEVELOPMENT MyHomeSource is an Alatus company that is devoted to developing high-quality singlefamily homes in the Twin Cities Metropolitan area and focuses on new home construction and home renovation.
Through MyHomeSource, an Alatus company, we Our organization contributes significantly to jobs are dedicated to long-term neighborhood revitalization by providing inspiring housing opportunities in the Twin Cities Metropolitan area through our network of private and public partnerships. To date, the company has built or renovated and sold over 500 homes to owner-occupants in more than 60 cities in the 7-county metropolitan area. We offer turnkey ready homes with quality finishes that include stone countertops in kitchen and baths, under-mount stainless steel sinks, stainless steel appliances, tile backsplashes, and more.
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created in the Twin Cities while enlisting the services of hundreds of vendors, including general contractors, sub-contractors, and trades for work completed in the homes. Along with our construction partners, we work closely with Realtors, Lenders, Asset Managers, NonProfits, and Government Agencies to deliver exceptional residences. MyHomeSource plays a major role in stabilizing Twin Cities’ neighborhoods.
COMMERCIAL DEVELOPMENT “Vision” best describes our primary asset in our development projects. Our mission is to provide innovative solutions and high-quality projects for the clients and communities we serve.
Alatus’
Commercial
Development
team
is
comprised of highly skilled industry leaders with decades of expertise in development, construction, finance, and marketing. We seek strategic opportunities and partnerships related to the redevelopment and rehabilitation of underutilized real estate. In doing so, we strive to build innovative, meaningful projects that positively impact stakeholders as well as the local neighborhoods that we are a part of. We appreciate the tremendous opportunity that each project presents to stabilize and revitalize communities.
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To
date, our organization has engaged in the
development of some of the most influential Class-A properties in the Minneapolis-St. Paul metro area including the transformation of the Block E retail and entertainment complex to Mayo Clinic Square - a mixed-use 245,000 square foot facility featuring a world-class sports medicine center, the Timberwolves and Lynx training facilities and headquarters, as well as office spaces, retail, and restaurants.
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DEVELOPMENT PIPELINE 11
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ROCHESTER 2ND STREET LUXURY APARTMENTS The 2nd Street Development is a 13-story mixed-use development with townhomes transitioning into the residential neighborhood. It is located at 1406 2nd Street SW, Rochester, Minnesota. The property will feature 368 market-rate apartment homes, 4 adjoining townhomes and approximately 24,000 square feet of commercial space
2nd
Street Development is a luxury apartment nd
community located at the intersection of 2 Street SW and 14th Avenue SW at the Gateway District leading into downtown Rochester. The property, designed by Minneapolis’ distinguished ESG Architects, is also adjacent to the world-renowned Mayo Clinic – Saint Mary’s Hospital and acts as a catalyst to further the transformation of the 2nd Street Corridor into a greener, vibrant, pedestrianfriendly "Live-Work-Play" district. The 13-story tower will strategically step-down into rental townhomes which provides a smooth transition into the residential neighborhood South of the site. 2nd Street Development will bring a sophisticated living experience second to none. Residents will live a lifestyle that mixes modern comfort with a bit of glamour. With a prime location and abundant amenities, these luxury apartment homes provide upscale elegance in a historic neighborhood setting.
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On the ground level, the property is envisioned to feature restaurant and retail spaces surrounded by a vibrant pedestrian friendly streetscape along 2nd Street SW. In addition, the 2nd floor will provide additional office and retail spaces. Given its close proximity to Saint Mary’s Hospital and a high transitoriented corridor, the 2nd Street Development is expected to attract a large number of tenants employed with Mayo Clinic and will appeal to guests from around the world. The impressive list of community amenities that 2nd Street Development will offer its residents include a 3rd story rooftop pool, fire pits, grilling stations, and an indoor sauna (to name a few). Residents will enjoy unique workfrom-home suites and private entertainment spaces. A state of the art 24/7 fitness center promotes healthy living; a heated, 4-season outdoor dog oasis and spa appeals to pet-lovers.
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IRONWOOD APARTMENTS IronWood Apartments is a 4-story luxury apartment development located in New Hope, Minnesota at 8400 Bass Lake Road. The property is currently under construction and will feature 182 market-rate apartment homes with options of both underground and at grade private resident parking. .
IronWood is a luxury apartment community located The in the center of the Northwest submarket, one of the highest household growth markets in the Twin Cities Metropolitan area. Scheduled for completion in November 2018, the location offers immediate access to local parks as well as the Crystal Shopping Center. IronWood is a convenient 15-minute drive to downtown Minneapolis and is ideally located near the LRT Blue Line expansion track. A new Hy-Vee grocery recently opened 1.5 miles to the south and most daily errands are accessible within five minutes by bicycle. The community and residents will benefit from a strong emphasis on healthy living and environmental stewardship considered throughout all aspects of design and implementation. An example includes utilization of next-level technology in residential mechanical HVAC systems, called Variable Refrigerant Flow (“VRF”), which uses less energy than traditional systems in order to heat and cool the property.
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adjacent well-maintained par 3 New Hope
Village Golf Course provides a unique opportunity for tenants to enjoy direct access to play rounds of golf during the summer months and enjoy outdoor activities, like snowshoeing and cross-country skiing, during the winter months. The property will have a spacious outdoor amenity deck surrounded by the apartment building on three sides to allow a private setting in nature. Tenants can come home to relax at the large pool, fire pits, and grilling stations, and will appreciate multiple entertainment spaces, a state of the art 24/7 fitness center, and unique DIY Lounge/workshop for residents to enjoy their hobbies. Residents will live a lifestyle that mixes casual comfort with an upscale elegance situated in a suburban setting with quick access to the Minneapolis central business district. IronWood will bring a sophisticated living experience that has yet to be seen in the New Hope marketplace.
200 CENTRAL CONDOMINIUMS 200 Central is a 40-story luxury residential tower located in the historic St Anthony Falls neighborhood, one block north-east of the Mississippi River and less than 1 mile from downtown Minneapolis. The project includes 214 for-sale condominium homes with 2:1 underground private resident parking and ground floor retail.
200 Central will offer a modern luxury high-rise A full array of amenities is planned, and several top condominium-living experience in Minneapolis with a quality level that is unmatched, superior by comparison to any premier high-rise residences available in Minneapolis. 200 Central will feature a point tower comprised largely of glass and set back on a 3-story limestone podium, simultaneously creating a historically cohesive, yet bold aesthetic. The concept includes large floor plans constructed with best-in-class finishes and expansive private semi-enclosed outdoor living spaces. Residences will feature sweeping views of the downtown Minneapolis skyline, Mississippi River, and Northeast Minneapolis. As part of a historic district, it is expected that these views will last in perpetuity.
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floor units will include partially heated terraces, some with small private pools and/or whirlpools. Over 6,000 square feet of public retail spaces at street level will create a welcoming, walkable experience - seamlessly integrating 200 Central into this vibrant community and enhancing the connectivity between riverfront properties and other Northeast businesses and residences. The tower’s location will facilitate an unbeatable urban lifestyle: the neighborhood includes choice retail, amenity, and restaurant offerings and the Minneapolis CBD is within a 5-minute car, bike, or bus ride. Nearby attractions include theaters and museums, the Mississippi River and related trail system, and Mill Ruins Park.
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228 12TH ST S APARTMENTS 228 12th St S is a Class A luxury apartment community in downtown Minneapolis along the South 12th Street corridor between 2nd and 3rd Avenues South, and is skyway connected to the Minneapolis Convention Center (MCC). 228 12th St will include 350400 units totaling approximately 295,000 net rentable square feet, a total of 661 privatepublic parking stalls, limited office/retail space, and full suite of amenity spaces.
228
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12th St is strategically situated in close
At the intersection of the I-94 & 35W, 228 12th St
proximity to most of Minneapolis’ main attractions and between the emerging ‘Downtown West’ and ‘Downtown East’ neighborhoods, two of the highest growth and most desirable downtown neighborhoods, boasting a plethora of dining and entertainment options. The development will offer a product that is currently unavailable in the MCC submarket. There is a growing desire to be able to live/work/play in downtown Minneapolis - Market trends have shown that the most desirable locations for residential living are, in fact, the neighborhoods that surround the CBD such as the Mill District, North Loop, North East, and Downtown East/West.
offers easy access to those entering and exiting downtown. I-94 and 35W are the two of the most traveled highway systems that intersect Minneapolis. With unparalleled visibility from the streetscape and from a distance, residents will enjoy completely unobstructed views to the West and South, presenting a rare opportunity to construct a building that will be seen as a landmark for those entering the city from either direction. Furthermore, given the current zoning constraints over applicable structures, the excellent visibility is believed to exist in perpetuity. Given the property’s ideal location for transportation and accessibility to downtown Minneapolis, 228 12th St is perfectly positioned to capture the steady demand for luxury urban living.
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ARDEN HILLS MASTER DEVELOPMENT The Arden Hills Master Development project is the revitalization of 427 acres into a welcoming, well-crafted master-planned community designed for generations to come - it is an endeavor to redefine suburban living for the 21st century by embracing the best aspects of both suburban and urban design.
One
of the last large-scale redevelopment
Once redeveloped, RCC will be home to over 1,500
opportunities in the Twin Cities and ideally-located at the intersections of HWY 10, HWY 35, and County Road 96, RCC is only 15 minutes from both downtown Minneapolis and downtown Saint Paul. Several major infrastructure improvements and connections into the site are currently underway or recently completed to ensure seamless public access into the site is available from day one. Along with over 70 acres of green spaces and 3+ miles of trails woven throughout the plan, the site is further connected and integrated into surrounding communities through a nationally recognized park system and network of 240+ miles of trails and waterways.
new residents and will create thousands of new highpaying jobs. As Master Developer, Alatus is guiding the overall design and development of site and has teamed with several regional and national experts to draw on the best and brightest real estate talent to creatively meet the high expectations and goals of this project. This development team envisions an authentic recreation-oriented destination that integrates naturally into the local fabric and creates a sense of place and “heart” for the existing area. Focused around a new Town Center, the site features a thoughtful mix of indoor and outdoor recreation areas, unique restaurants and retail, offices and commercial spaces, and open, walkable civic spaces – all within walking distance of diverse housing options to fit every lifestyle.
Upon completion, the project’s estimated value will exceed $700 million.
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ROSEVILLE GARDEN STATION Garden Station is a new construction development in Roseville, MN located on Dale Street, just north of Highway 36. Garden Station offers 18 single-level townhomes designed for the ease and convenience of one level living. Each home will be Green Path Advanced Certified and will offer buyers a choice of high-end designer finish packages.
Starting at $350,000 - $375,000 base price, Garden Station townhomes are approximately 1,660 SF and 3,300 SF with an optional finished lower level. To date, the project is 72% complete (13 sold of 18 lots) with sold homes closing at an average price of $380,000 per unit.
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PARKSIDE AT HUMBOLDT GREENWAY Parkside at Humboldt Greenway is a new single-family development featuring 65 home sites located on the edge of the Lind-Bohanan and Shingle Creek neighborhoods just steps from Minnesota’s amazing trail systems and a quick walk to Minneapolis’ famed Grand Rounds National Scenic Byway system.
Parkside
serves a great need for high-quality,
affordable homes in North Minneapolis, serves to stabilize and build pride in the community, grows home values, and offers (several first-time) homebuyers the unique opportunity to design and own a semi-custom home in a historically significant and culturally rich community less than 15 minutes from downtown Minneapolis. Currently in Phase 2 of a 3-Phase development strategy, Parkside has sold 26 of 41 homes at an average price of $350,000. Phase 3 (an additional 24 currently vacant lots) is planned to begin construction in Spring 2018.
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Buyers at Parkside can choose from one of four beautiful yet efficiently laid out floor plans overlooking the natural beauty of Shingle Creek. Each plan features 3 bedrooms and 2 bathrooms upstairs and the ability to add a 4th bedroom and additional full bathroom on the lower level with our finished basement option. Granite countertops, stainless steel appliance packages and engineered hardwood flooring are standard features that are accompanied by beautiful, modern design packages suited towards buyers’ personal tastes. Each home is also Green Path Certified℠ - we strive to provide not only beautiful homes but efficient ones.
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DIVESTED PROPERTIES 19
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LATITUDE 45 APARTMENTS Latitude 45 is a 13-story mixed-use development located at 313 Washington Ave S. The property features 318 market-rate apartment homes and 10,000 square feet of ground floor retail space. The property was sold in 2017 to an institutional investor.
Latitude 45 is an award-winning luxury apartment The property features a brand-new Ryan Burnet community located at the intersection of Minneapolis’ Mill District and Downtown East neighborhoods. As a cornerstone of the Downtown Core and Mississippi Riverfront the property, designed by locally-renowned ESG Architects, acts as a catalyst to further the transformation of Washington Avenue into a greener, vibrant, pedestrian-friendly "Live-Work-Play" district. Latitude 45 brings a sophisticated living experience second to none. Residents live a lifestyle that mixes casual comfort with a bit of glamour, not to mention access to downtown’s social scene, the business district and direct connection to the Minneapolis Skyway. With a prime location and abundant amenities, these luxury apartment homes provide upscale elegance in a historic downtown setting.
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restaurant – Eastside - as well as Massage Envy Spa at street level. The impressive list of amenities that Latitude 45 offers its residents include a rooftop garden terrace, private rooftop pool, fire pits, grilling stations, and bar areas just to name a few. In addition, residents enjoy a Skyway level lounge, a penthouse level clubroom and private event space. A state of the art fitness center and private bike-rider club/workshop attracts fitness fanatics; a heated, 4season outdoor dog oasis as well as walking proximity to the river and St. Anthony Falls trails (Stone Arch Bridge) appeals to the downtown nature-lovers.
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MAYO CLINIC SQUARE Mayo Clinic Square is a 3-story, 245,000 square foot mixed-use property featuring office, medical, restaurant, sports, retail, and public parking uses and is located in the heart of the downtown Minneapolis entertainment district. Development completed in 2015 and the property sold to an institutional investor in 2017.
As local developers deeply invested in the success Mayo of downtown Minneapolis, Alatus and its partners acquired the well-located but historically troubled Block E retail & entertainment complex in 2010. We diligently listened to community stakeholders to re-design the property for long term stabilization and dynamic contribution toward the revitalization of Hennepin Avenue. Alatus partnered with the Minnesota Timberwolves/Lynx and the world-class Mayo Clinic organization to deliver the fully renovated and renamed Mayo Clinic Square in 2015 – a business, entertainment, sports and cultural centerpiece located in the Minneapolis entertainment district.
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Clinic Square is now home to the
Timberwolves’ and Lynx’ 107,000-square-foot practice facilities and headquarters – deemed “The Gold Standard” of courts by NBA Commissioner Adam Silver. Sharing the third and fourth floors of the building is The Mayo Clinic Sports Medicine center – a 20,000+ square foot one-of-a-kind sports medicine facility highlighted by sport-specific treatment programs and state-of-the-art rehabilitation and imaging equipment for elite to amateur athletes. The $60 million renovation also features signature destination restaurants, retail tenants, and office spaces which bring positive activity and life to the streetscape and provide long-term vitality in the heart of downtown Minneapolis.
GRANT PARK CONDOMINIUMS Developed in 2004, APEX Asset Management and OPUS Northwest LLC built and soldout the 27-story, 331-unit high-class condominium project named Grant Park, significantly benefiting the residential district at the southern edge of Minneapolis’ core.
This development has an elegant old-time feeling Residents and their guests are greeted by a host of and features handsome, pedestrian-friendly townhomes surrounding the cornerstone tower. The property creates a strong sense of community and acts as an anchor for the neighborhood. It is located on East Grant Street and the exit off I-94, and serves as a gateway to downtown Minneapolis.
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amenities. They swim in a private pool that is warm and sunny year-round, sheltered under a glassenclosed conservatory. Whenever they choose, they can work out in Grant Park’s club-quality fitness center, and can easily conduct business with the help of a state-of the-art business center, meeting facilities, guest suites, and package receiving station. In spring and summer, they picnic and stroll among the gardens of the beautifully landscaped inner courtyard.
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THE CARLYLE CONDOMINIUMS The Carlyle Condominium building was developed in 2007 by APEX Asset Management and OPUS Northwest LLC, and sold-out all units in record time. The property is 39-stories tall and features 255 unique luxury condominium homes.
At 39 stories, The Carlyle offers views that take At the corner of 3rd Avenue S and 1st Street S, the your breath away, floor plans designed for elegant living, and the kind of luxurious amenities that benefit a contemporary urban lifestyle. Completed in 2007, the property features one-of-a-kind upscale urban condominiums – residents enjoy homes fully customized to the tastes and lifestyles of each owner. Located in the historic district of Minneapolis and overlooking the river, The Carlyle is the residential center for the city’s cultural, culinary, and outdoor events.
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building greets visitors entering the core of Minneapolis and is a key fixture in the city skyline. The Carlyle’s post-modern architecture complements the surrounding buildings, paying tribute to the roots of the neighborhood, while still creating a grand impression.
7WEST APARTMENTS 7West Apartments is located in the Seven Corners neighborhood of Minneapolis, adjacent to the West Bank campus of the University of Minnesota. The property, sold in 2015, is a 5-story structure and includes 213 apartment units, private resident parking, and a 329stall public parking ramp.
7West Apartments, conceptualized by Robb Miller 7West is a 5-story LEED Gold Certified building and (T.E. Miller Development) and Curt Gunsbury (Solhem Companies), is designed to inspire and foster a community of friends. The community was inspired by innovative Chinese Feng Shui design and incorporates art by local Twin Cities artists Marcus Young and Brad Kaspari to create a positive, zen atmosphere. 7West residents will appreciate the eco-friendly, nature-conscious elements of the building as well as cool outdoor spaces, private study nooks, yoga and fitness studios, and common gathering spaces featuring billiards, fire pits, and entertainment centers.
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is conveniently located in the Seven Corners neighborhood on Washington Ave S, close to the University of Minnesota West Bank campus and many popular restaurants, bars, theaters, and the recently renovated Courtyard Marriott hotel. The building also includes designated underground parking spaces for tenants. Attached to the 7West Apartments is the Seven Corners Parking Ramp, which is a post-tensioned cast-in-place concrete public parking ramp featuring 5 above-ground levels. The ramp uses ZEAG controlled access system and is open 24/7/365.
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MINNEAPOLIS PARKING The Alatus Parking Management Team was formed in the fall of 2007 with the acquisition of five public parking ramps and two surface lots in downtown Minneapolis. Since then, the company continued to reposition and grow assets, and represented the largest privately held parking company in the state of Minnesota until selling the portfolio in 2014.
The
organization, dba MinneapolisParking, was
originally designed as a property holding company and quickly expanded into operations management, third-party asset management, affiliate marketing, services, and consultation and development services within the realm of commercial parking. With over 5,500 stalls under management and 30+ employees, the portfolio management team combined expertise in operations and facility management, customer relationship management, and e-commerce management to provide best-in-class service to customers and owners.
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MinneapolisParking
applied the integration of
technology and a customer-centric approach throughout parking facilities as well as the sales process to create an efficient, automated, and consistent customer experience. Operations were streamlined into one centrally-located 24/7/365 customer service center downtown. Property values were maximized through improvement plans focused on safety, ease of use, proactive upkeep, clean and simple design, and management by a skilled, well-trained workforce.
MYHOMESOURCE – HOME REHABILITATION Between 2009 – 2016, MyHomeSource renovated over 500 single-family homes across 60+ cities within the Twin Cities metro. During and after the great housing recession, the organization successfully executed our mission to rebuild and revitalize neighborhoods and communities by providing affordable and inspiring housing opportunities.
# of Homes Renovated per City
Most of these 500 homes were bank- or city-owned foreclosures purchased as-is. MyHomeSource was able to transform some of the most challenged properties in the marketplace and provide beautiful, high-quality, safe homes to new home-buyers at reasonable market prices during a significantly challenging time in our economy and history. MyHomeSource typically invested over $50,000 in improvements per home, and sold finished updated homes for $180,000 on average (a range of $60-400k).
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THE SUMMIT OF MENDOTA HEIGHTS MyHomeSource acquired the rights to develop and sell the 4 remaining lots in the Summit of Mendota Heights development. Now sold-out, these homes have the same luxury look and feel of the original development, but feature updated finishes that represent what is current in the marketplace.
The
Summit of Mendota Development project
features construction of two luxury twin-homes sites within minutes of the Mississippi River, regional parks and trails, multiple country clubs and golf courses, as well as downtown shopping districts and excellent schools. Well-located near Minneapolis and St. Paul, residents benefit from urban amenities yet enjoy a quiet, family-friendly, nature-oriented community focused on civic pride and aesthetic excellence.
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Starting
at $600,000 base price, each 3,000+
square-foot unit offers several floorplans to select from, along with the option to fully customize buyers’ homes from top-to-bottom. Upon completion of these fully custom homes, final sales prices ranged from $600-$800,000 per unit.
800 Nicollet Mall, Ste. 2850 Minneapolis, MN 55402 (612) 455.0700
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