Posted: 12:21 pm Tue, January 8, 2013
By Finance and Commerce
Tags: Cargill, Donald C. MacMillan, Donald C. MacMillan Living Trust, Peggy Burnet, Ralph Burnet
12:21 pm Tue, January 8, 2013
Ralph and Peggy Burnet have paid $2.75 million for a home in southwest Minneapolis at 4218 Fremont Ave. S. near Lake Harriet. The sale closed on Dec. 20, but the deal became public on Tuesday through a certificate of real estate value (CRV) filed with Hennepin County.
The seller was Donald C. MacMillan as the trustee of the Donald C. MacMillan Living Trust. MacMillan is one of the heirs of the extended Cargill family, which owns the privately held Cargill Inc., based in Wayzata.
The deal appears connected to a sale that closed on the same day: The Burnets sold their Wayzata home at 392 and 410 Ferndale Road South to MacMillan as the trustee for the Donald C. MacMillan Living Trust on the same date for $9.1 million. Finance & Commerce reported on that sale last week.
Ralph Burnet founded Burnet Realty and remains chairman of the Edina-based Coldwell Banker Burnet, which is now owned by New Jersey-based NRT LLC. Burnet developed the Le Meridien Chambers, a boutique hotel in downtown Minneapolis, and was part of the development team for W Minneapolis ? The Foshay, which converted a vintage downtown Minneapolis office building into a hotel.
The Burnets previously sold off a vacant, 2.5-acre piece of the Wayzata property for $4.55 million in late 2011.
The Minneapolis home previously sold for $2.1 million in December 2000. The property has a current assessed value of $2.48 million, according to Hennepin County property tax records.
The CRV is available here.
Source: http://finance-commerce.com/2013/01/burnets-buy-south-minneapolis-home-for-2-75-million/
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