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CEDARst Reveals Historic Repositioning Plans

The Chicago-based group acquires historic manufacturing buildings and surface lot for a 345-unit, high-amenity development.

The Duffey Lofts north loop The Duffey Lofts

MINNEAPOLIS—CEDARst Cos. has completed the acquisition of two adjoining historic properties and a land site in the North Loop section of Minneapolis and ultimately will redevelop the property as 6th and 3rd, an approximately 345-unit, fully-amenitized multifamily complex. The site was acquired for approximately $21.1 million. The seller of properties was a consortium led by the Martin Falk Paper Co. Cedar was represented by Pat Minea and Dan Trebil of Northmarq, who facilitated acquisition financing from First Western Bank & Trust. Lamar Newburn of Lee & Associates represented CEDARst in the transaction.

The business plan for 6th and 3rd will resemble CEDARst’s revealed plans at The Duffey Lofts, also in the North Loop market. That project involves the adaptive reuse of the C.J. Duffey Paper buildings, located at 500-528 Washington Ave N, into 190 multifamily units and 20,000 square feet of commercial space.

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Natalie Dolce

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.

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