CBRE Arranges Sale of 453-Unit City Walk Multifamily Community in Woodbury, Minnesota, to Waterton
CBRE has arranged the sale of City Walk, a 453-unit multifamily property in Woodbury, Minnesota, to Waterton, the firm announced Oct. 5, 2026.
CBRE's Keith Collins, Abe Appert and Ted Abramson represented the seller in the transaction.
CBRE Team Represents Seller in City Walk Sale
The CBRE investment sales team of Collins, Appert and Abramson handled the seller-side assignment. Waterton, a Chicago-based investor-operator, is the buyer.
"The property has experienced terrific operational growth over the past year," Collins said. "Waterton seeks to capitalize on this trend while implementing a value-add investment strategy."
Waterton plans a value-add program focused on apartments, hallways and common areas.
City Walk Property Details in Woodbury
City Walk is located at 10225 City Walk Drive in Woodbury, near the Interstates 94 and 494 interchange. The location provides access to more than 2.2 million square feet of nearby retail, according to CBRE.
The property comprises two four-story residential buildings and was developed in phases, built in 2005 and expanded in 2011. The community offers a mix of one-, two- and three-bedroom floor plans, with an average unit size of 1,198 square feet. The mixed-use community also includes retail space.
Community and unit amenities include heated garage parking, a fitness center, an indoor pool and spa, a golf simulator, a game room, a business center, a clubhouse and outdoor gathering spaces. The property also has coworking spaces, a playground, grills and a dog park.
Value-Add Strategy for the Twin Cities Suburb
The transaction gives Waterton a large suburban Twin Cities multifamily asset with established amenities and a mixed-use component. Waterton's planned improvements place City Walk within the value-add segment of multifamily investing, in which an owner acquires an operating community and upgrades interiors and shared spaces.
The property's phased construction in 2005 and 2011 leaves room for unit, corridor and amenity upgrades while retaining an operating asset at scale.
About CBRE
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, describes itself as the world's largest commercial real estate services and investment firm. The company has more than 155,000 employees serving clients in more than 100 countries.
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