For more than two decades, Maslon has had the privilege of working with a leading group of local private investment managers with successful funds. These managers got the unique opportunity to acquire Galleria Edina, and they turned to Maslon to advise them through the 2022 acquisition. Long considered the premier luxury shopping destination in the Twin Cities, Galleria boasts tenants such as Louis Vuitton and Tiffany & Co.

A team of Maslon attorneys led by Partner Marty Rosenbaum dedicated several months to complete the $150 million acquisition. Marty coordinated the efforts of the Maslon team, formed 70th Street Properties, LLC, and created unique investment and offering documents for multiple installments of equity investments by several dozen sophisticated investors. Partner Matt Loven led all aspects of the real estate acquisition, the bank loan, and the management agreement with the nationally recognized property manager, who has continued to manage the property after the acquisition. Partner Mark Klos provided additional review of loan documentation, with Partner Andy Jacobson’s assistance on the real estate side. Partner Susan Markey assisted in drafting and negotiating the LLC operating agreement and provided tax advice. Park State Bank led the bank financing group.

Maslon's Corporate & Securities and Real Estate groups greatly appreciated the opportunity to further their client's goals by helping wrap up this elegant acquisition.