Onward Investors Expands Presence with New Property Acquisition
Onward Investors Acquires the Ameriprise Financial Center
Today, Onward Investors (NASDAQ: COOT) has announced a significant addition to their portfolio with the acquisition of the 31-story Ameriprise Financial Center. This notable structure spans 960,000 square feet and has been the headquarters for Ameriprise Financial since it opened its doors back in 2000. The building is strategically located in downtown, making it a focal point for future developments.
Details of the Building and Its Location
The Ameriprise Financial Center is part of the iconic skyline and is poised to become vacant soon, offering unique potential for transformation. It enjoys direct access to the Minneapolis skyway system, an added value that connects it seamlessly to several significant landmarks such as the Minneapolis Club, Capella Tower, SPS Tower, and Baker Center.
Parking and Accessibility
Moreover, the building includes a below-grade parking facility that accommodates over 300 vehicles, accessible via 3rd Avenue South. This feature enhances its attractiveness as it ensures convenience for future tenants and visitors.
Future Plans for the Property
Onward Investors is actively considering various options regarding the future of the Ameriprise Financial Center. They are exploring potential conversions of all or portions of the building to non-office uses, which reflects a broader trend in urban real estate where mixed-use spaces are becoming increasingly popular.
Company Vision and Statements
Jon Lanners, a Partner at Onward Investors, articulated the firm’s ambitions by stating, "The purchase of the Ameriprise Financial Center is another demonstration of our desire to be an active participant in the recovery of downtown. We believe that now is a great time to be investing in the city's future and look forward to engaging a multitude of stakeholders in the coming months as we re-imagine this well-known asset in the skyline." This commitment showcases Onward's active role in shaping the future landscape of urban areas.
About Onward Investors
Onward Investors is an alternative investment firm that specializes in real estate-related opportunities. Founded in 2011, the firm has a track record of leveraging deep asset class expertise alongside comprehensive credit and equity investing strategies. Based in the greater metropolitan area, Onward is poised to make significant contributions to urban revitalization and real estate development.
Commitment to Community Development
The firm’s foundational goal was to capitalize on the unique opportunities presented in the aftermath of the Global Financial Crisis, aiming to create value in ways that are beneficial to the communities they engage with. Onward strongly believes in sustainable development practices and strives to positively impact local economies.
Frequently Asked Questions
What is the Ameriprise Financial Center?
The Ameriprise Financial Center is a 31-story skyscraper that has served as the headquarters for Ameriprise Financial since it was constructed in 2000, now acquired by Onward Investors.
What are Onward Investors' plans for the acquired building?
Onward Investors plans to explore various options for the property, including potentially converting parts of the building for uses other than office space.
How does this acquisition fit into Onward Investors' strategy?
This acquisition aligns with Onward's strategy of being actively involved in the downtown area’s recovery and exploring new development opportunities.
Where is Onward Investors based?
Onward Investors is based in the greater Minneapolis area and focuses on real estate investment opportunities.
When was Onward Investors founded?
Onward Investors was founded in 2011 with the intention of capitalizing on investment opportunities that arose in the wake of the Global Financial Crisis.
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