Real estate private equity firm Ethika Investments has allocated capital for the acquisition of Woodlake Centre located in Richfield, Minnesota.
This property marks the ninth investment from Ethika's Diversified Opportunity Real Estate Fund.
The 190,000-square-foot complex is a regional destination for health service professionals and supporting industries in Richfield, one of Minneapolis' key inner-ring suburbs. Woodlake Centre is positioned near freeway interchanges I-494, I-35 and the Twin Cities Crosstown Highway, and just ten minutes from Downtown Minneapolis, Mall of America and Minneapolis-St. Paul International Airport.
"At just 4.3 per cent, the Minneapolis market boasts the lowest unemployment rate in the US among metropolitan areas with more than one million in population," says Andres Szita, co-founder and chairman of Ethika Investments. "We are very confident in our investment in this market and for the tremendous upside potential it creates on behalf of our investors."