The Opus Group Announces Acquisition of Opus Northwest Land Holdings

MINNEAPOLIS, Minn. - Opus Holding, L.L.C., a member of The Opus Group, announced today that one of its affiliates has acquired all the remaining Minnesota and South Dakota land holdings of Opus Northwest, L.L.C. Terms of the transaction were not disclosed.

The acquired land totals 74 acres and includes two sites in downtown Minneapolis; 11 retail center outlots (six outlots at Arbor Lakes in Maple Grove, Minn., one outlot at Woodbury Lakes in Woodbury, Minn., and four outlots at Shoppes on Maine in Rochester, Minn.); 40 acres of industrial land in Shakopee, Minn.; five acres of land in Cambridge, Minn.; seven acres of land in Minnetonka, Minn.; and seven acres of land in Sioux Falls, S.D. Subsequently, the land in Sioux Falls was sold to an affiliate of Lloyd Companies. 

“The acquisition of these land holdings further strengthens the foundation we are building on,” said Tim Murnane, president and chief executive officer, Opus Holding, L.L.C. “While market conditions overall are still challenging, we’re starting to see new deals getting done and these are all assets that our team is intimately familiar with. We’re pursuing build-to-suit opportunities in this marketplace, and across the country, and just closed on our first development deal in the last two years, the Stadium Village Flats property.” 

“The sale of these assets is part of the orderly wind-down and liquidation of Opus Northwest’s assets for the benefit of its creditors,” said James Bartholomew of Lighthouse Management Group Inc. and chief restructuring officer of Opus Northwest. 
About The Opus Group
The Opus Group is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. The Opus Group includes Opus Holding, L.L.C. and Opus Holding, Inc. and their operating subsidiaries, Opus Development Corporation, Opus Design Build, L.L.C. and Opus AE Group, Inc. Specializing in office, industrial, retail, residential living, institutional and government projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit