The Opus Group® Announces Completion of Venue at Dinkytown

9/11/2014
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​MINNEAPOLIS – The Opus Group (Opus) announced today the completion of the mixed-use student housing and retail complex, Venue at Dinkytown, developed in collaboration with Harrison Street Real Estate Capital LLC, a Chicago-based real estate investment management firm. Located in the Dinkytown neighborhood near the University of Minnesota’s East Bank campus, the six-story building has 97 percent of the 246 beds leased and three committed tenants for retail spaces on the first floor.

Residents moved in to the 140-unit development on Aug. 29, just 12 months after the project broke ground and in time for the start of the 2014 school year. The luxury apartments feature granite countertops, stainless steel appliances and flat screen TVs in every unit. Additional amenities include a fitness studio and yoga room, clubroom, screening room, private study area and heated underground parking.

“We are extremely pleased to provide another high-quality housing option in a prime location near University of Minnesota,” said Matt Rauenhorst, senior director of real estate development at Opus Development Company, L.L.C. “Venue at Dinkytown is a great addition to the changing landscape of 5th Street Southeast and provides convenient services and retail options for residents and the community.”

Committed tenants for the ground-floor retail space include: Starbucks, Great Clips and Gina + Will, a new concept store from Goodwill-Easter Seals Minnesota featuring trendy casual wear and designer clothing at affordable prices. Gina + Will opened on Aug. 23 and Starbucks and Great Clips will open this fall. There is 2,200 square feet of retail space still available for lease.

Barry C. Brottlund, CCIM, from InSite Commercial Real Estate represented the owner on all three transactions. Goodwill was represented by Laura Moore of Moore & Company Commercial Real Estate, Starbucks was represented by Johnny Reimann of Mid-America Real Estate – Minnesota, LLC, and Great Clips was represented by Lisa Diehl of Diehl & Partners.

Opus Development Company, L.L.C. was the project’s developer and Opus Design Build, L.L.C. was the design-builder. Opus AE Group, L.L.C. served as the architect and structural engineer of record, as well as the interior designer. Minneapolis-based Elness Swenson Graham Architects Inc., was the design architect in partnership with Opus AE Group, L.L.C. This is Opus’ third student housing project to open near the University of Minnesota campus since 2012.

Opus also recently completed two additional student housing projects in partnership with Harrison Street. In Milwaukee, Ivy on Fourteenth is located near the Marquette University campus. The six-story development has 165 beds and approximately 7,500 square feet of retail space. In Madison, Wisconsin, Varsity Quarters is located directly adjacent to the University of Wisconsin – Madison campus. The six-story development has 162 beds and approximately 7,000 square feet of retail space.

About The Opus Group
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in office, industrial, retail, institutional, residential 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 www.opus-group.com and follow @TheOpusGroup on Twitter.

About Harrison Street Real Estate Capital, LLC
Harrison Street Real Estate Capital is a Chicago-based real estate private equity firm that was founded in 2005 and currently has more than $5.0 billion in assets under management through private equity funds and public securities products. The firm, on behalf of Harrison Street Real Estate Partners I, II, III, IV and the Core Property Fund, currently owns approximately $4.5 billion in real estate assets, including approximately 28,000 student housing beds, more than 7,000 senior housing/assisted living units, in excess of 1.6 million square feet of medical office space, more than 68,000 self-storage units, and more than 4,100 dry and wet boat storage slips.