# Ameriprise Financial Center *Office tower at 707 2nd Avenue South, Minneapolis, Hennepin County, Minnesota* The Ameriprise Financial Center is a 31-story office tower at 707 2nd Avenue South in downtown [[Minneapolis]], [[Hennepin County, Minnesota]], with about 960,000 square feet of space.[^1] On January 30, 2025 it sold to Onward Investors for $6.25 million.[^1] Its 2016 price was reported at more than $200 million, which makes the 2025 price a discount of roughly 97 percent.[^1][^2] The project's at-issue record sets the sale beside Hennepin County's first-place national ranking in federal dollars received.[^3] The project's own source file qualifies that ranking. The federal data book the spending to the Minnetonka headquarters address of the nation's largest Medicare Advantage insurer rather than to the beneficiaries. The ranking therefore reflects where the spending is recorded, not where the money went.[^4] ## Where The tower stands at 707 2nd Avenue South in downtown Minneapolis.[^1] The project's source file states that the January 2025 sale concerns the Ameriprise building, not the AT&T Tower at 901 Marquette. It adds that no distressed sale of the AT&T Tower has been verified and that the two must not be conflated.[^1][^2] The building sits in Hennepin County. The U.S. Census Bureau estimated the county's population at 1,284,784 as of July 1, 2025.[^5] It estimated [[Minnesota]]'s population at 5,830,405 on the same date.[^6] The county therefore holds about 22.0 percent of the state's residents. That ratio is the project's arithmetic from the two Census pages and is not published by the Bureau.[^5][^6] The Bureau of Economic Analysis put Hennepin County's 2024 all-industry GDP at $193,617,316 thousand, about $193.6 billion.[^7] It put Minnesota's 2024 GDP at $507,687.8 million.[^8] On those figures the county produced about 38.1 percent of state output, which is also a derived ratio.[^7][^8] ## How much - **Sale price.** The building sold on January 30, 2025 for $6.25 million. The buyer was Onward Investors.[^1] Twin Cities Business reporting corroborates the sale and places it in market context.[^2] - **Prior price.** The building traded for more than $200 million in 2016.[^1] - **Discount.** At-issue item 039 states the difference as "A 97% discount." The percentage is derived from the two prices.[^1][^3] - **Comparable sale.** The Center of the American Experiment reports that the Forum buildings downtown sold for $6.5 million in September 2024. That works out to about $10.25 per square foot. The same buildings had sold for $73.7 million in 2019. The Center is an advocacy outlet, and the project file notes that its figures are drawn from county records and trade reporting.[^9] - **Market distress.** In an August 7, 2026 report, the data firm CRED iQ ranked Minneapolis–St. Paul first among the fifty largest commercial mortgage-backed securities (CMBS) markets, at 55.1 percent distress. The report cautions that the top metros are "shaped by a handful of very large loans."[^10] Commercial Observer reported a national comparison rate of 10.91 percent as of July 2026.[^11] ## In the at-issue record [[At issue 039 - The Ameriprise Financial Center 31 stories, 960,000 square]] restates the building's height, floor area, sale date and price, and its 2016 trading level. It closes: "A 97% discount, in the county that leads the nation in receiving federal money."[^3] The item lists two news sources, Axios and Twin Cities Business.[^1][^2] It is anchored to the presidential action *Restoring Integrity to America's Financial System* (May 2026). The record gives its reason for the anchor as "the clearing price is the market's verdict on the underlying."[^3] The federal-money ranking comes from a SmartAsset survey reported by The Center Square on August 29, 2026.[^4] The survey covered 3,132 counties from January 1, 2025 to June 30, 2026. It placed Hennepin County first nationally at more than $286 billion, of which $282.8 billion was direct assistance. Per resident, the county's $222,702 ranked eleventh.[^4] The study's author attributes the total to the insurer's headquarters address in the county.[^4] UnitedHealth Group, headquartered in Minnetonka, gave its own account on July 24, 2025. It stated that "The Company has now begun complying with formal criminal and civil requests from the Department." The Department is the U.S. Department of Justice, and the requests concern the company's Medicare participation. In the same statement the company asserted that "Independent CMS audits confirm that the Company's practices are among the most accurate in the industry."[^12] The project's source file records that no 2026 resolution, settlement, indictment or declination has been located. It asserts no change in status.[^12] A companion item, [[At issue 040 - The Wells Fargo Center sold in December 2024]], is anchored to the same presidential action.[^3] Its text states that the Wells Fargo Center sold in December 2024 for a reported $85 million, after selling in 2019 for $313.6 million. The item describes this as a 73 percent decline, on a building 62 percent leased at the time of sale. The item rests on a single news source that is not among the pack's citable URLs.[^3] ## Notes [^1]: Axios Twin Cities, *report on the discounted sale of a downtown Minneapolis office tower* (Feb. 3, 2025) — Ameriprise Financial Center, 707 2nd Ave S, 31 stories, 960,000 sq ft; sold January 30, 2025 for $6.25 million to Onward Investors; $200 million-plus price in 2016. https://www.axios.com/local/twin-cities/2025/02/03/downtown-minneapolis-office-tower-discount [^2]: Twin Cities Business, *report on the Minneapolis commercial real estate market* (undated in pack) — corroboration of the sale and market context. https://tcbmag.com/whats-behind-the-commercial-real-estate-mess-in-minneapolis/ [^3]: The White House, *Restoring Integrity to America's Financial System* (May 2026) — the presidential action cited as the anchor for at-issue items 039 and 040 (AI-039, AI-Hennepin-039, AI-040); the item texts are the at-issue record's own. https://www.whitehouse.gov/presidential-actions/2026/05/restoring-integrity-to-americas-financial-system/ [^4]: The Center Square, *Minnesota's Hennepin County tops U.S. in federal spending* (Aug. 29, 2026) — SmartAsset survey of 3,132 counties, Jan. 1, 2025 – June 30, 2026: Hennepin first at more than $286 billion, $282.8 billion direct assistance, $222,702 per resident (eleventh); spending booked to the address of a Medicare Advantage insurer headquartered in the county. https://www.thecentersquare.com/minnesota/article_96460bd8-0fdb-4652-9c1a-0aa5edaccc78.html [^5]: U.S. Census Bureau, *QuickFacts: Hennepin County, Minnesota* — population 1,281,565 (April 1, 2020 census); 1,284,784 (July 1, 2025 estimate). https://www.census.gov/quickfacts/fact/table/hennepincountyminnesota/PST045224 [^6]: U.S. Census Bureau, *QuickFacts: Minnesota* — population 5,706,494 (2020 census); 5,830,405 (July 1, 2025 estimate). https://www.census.gov/quickfacts/fact/table/MN/PST045224 [^7]: Bureau of Economic Analysis via FRED, *All Industry Total GDP, Hennepin County, MN* — $193,617,316 thousand (2024). https://fred.stlouisfed.org/series/GDPALL27053 [^8]: Bureau of Economic Analysis via FRED, *Minnesota all-industry GDP* — $507,687.8 million (2024). https://fred.stlouisfed.org/series/MNNGSP [^9]: Center of the American Experiment, *Downtown Minneapolis office space sells for just $10.25 per square foot* (advocacy outlet) — Forum buildings, $73.7 million (2019) and $6.5 million (September 2024). https://www.americanexperiment.org/downtown-minneapolis-office-space-sells-for-just-10-25-per-square-foot/ [^10]: CRED iQ, *CRE CMBS distress report: top 50 U.S. metro rankings* (Aug. 7, 2026) — Minneapolis–St. Paul first among the fifty largest CMBS markets at 55.1 percent distress; caveat on large loans. https://cred-iq.com/blog/2026/08/07/cre-cmbs-distress-report-top-50-u-s-metro-rankings-and-whats-driving-them/ [^11]: Commercial Observer, *report on CMBS distress* (Aug. 2026) — national comparison rate of 10.91 percent (July 2026). https://commercialobserver.com/2026/08/cmbs-distress-2026-cred-iq-2/ [^12]: UnitedHealth Group, *UHG Responds to DOJ Investigation* (July 24, 2025) — company complying with formal criminal and civil requests from the Department of Justice; company's assertion regarding CMS audits; headquarters Minnetonka, Hennepin County. https://www.unitedhealthgroup.com/newsroom/2025/2025-07-24-uhg-responds-to-doj-investigation.html