Located in thriving Richfield, MN, Riley offers residents smart and stylish living in a first-ring suburb of Minneapolis. Nestled in a lovely neighborhood, Riley provides residents with a hometown feel alongside easy access to the Twin Cities finest entertainment, shopping, and parks.
The property hosts 82 apartments with studio, one-bedroom, and two-bedroom units at an affordable price point. Corridor worked with North Bay Companies to execute a lease-up strategy to lease Riley quickly and efficiently.
Corridor's leasing process was highly effective, and the results speak for themselves. The apartments were 60% leased on opening day, an impressive feat considering the current market conditions. Within 60 days of opening, the Riley was fully leased, with 82 leases signed. Throughout the lease-up, Corridor aided North Bay Companies in increasing Riley's rental rates based on renter demand resulting in exceeding project pro forma with outstanding results.
As a testament to our partnership with North Bay Companies, Corridor will continue providing ongoing leasing support as Riley transitions to stabilization.
