https://sahanjournal.com/news-partners/basim-sabri-karmel-apartments-fannie-mae-foreclosure-lawsuit/
Karmel Mall owner faces foreclosure suit against his Minneapolis apartments over maintenance issues
Basim Sabri contests many of the allegations in the suit made by Fannie Mae, mortgage holder on two apartment buildings he developed.
by Mike Hughlett | The Minnesota Star Tribune
May 7, 2025
Basim Sabri, who also owns the apartments seen here and also Karmel Mall, walked in 2024 with his son Yusef near Pleasant Ave. S. And 29th St. Monday in Minneapolis. Fannie Mae has filed a foreclosure lawsuit against Sabri in regard to the apartments. Credit: David Joles | The Minnesota Star Tribune)
Two of developer Basim Sabri’s south Minneapolis apartment buildings are facing mortgage foreclosures because they allegedly failed to make more than $530,000 in required repairs. . .
Sabri, a prominent and controversial Minneapolis developer, is best known for developing Karmel Plaza, where scores of Somali Minnesotans run shops and restaurants.
The Karmel Mall and other Sabri developments take up much of Pleasant and Pillsbury avenues between the Midtown Greenway and W. Lake Street. Karmel Plaza is not party to the lawsuits.
Rana Village was completed in 2020 and has 113 units, while Karmel Village opened in 2010 and has 92 units. They respectively owe Fannie Mae about $19 million and $8 million. . .
Basim Sabri: “treating every resident with dignity” by not making repairs.
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https://www.sabriproperties.com/our-team
.. .Outside of work, Basim Sabri is actively involved in local volunteer efforts and mentorship programs, especially those supporting youth, immigrants, and working families. These experiences reinforce the importance of listening, building trust, and treating every resident with dignity. For [him/her/them], housing isn’t just about property—it’s about people, relationships, and the responsibility to create spaces where others can thrive.