2 suburban rental deals total $64 million

Investors from Florida and Eden Prairie have paid a total of $64 million for aging apartment complexes in Burnsville and Bloomington, giving the sellers what appear to be tidy margins on the transactions.

Priderock Capital Partners of West Palm Beach, Florida, made the bigger purchase, buying the 304-unit River South apartments at 13000 Harriet Ave. S. in Burnsville for $37.25 million, according to a certificate of real estate value made public on March 30.

View full article.