Viking Lakes

What Viking Lakes does

Viking Lakes is a 200+ acre mixed-use master-planned development in Eagan, Minnesota, operated by MV Ventures LLC, a real estate development company wholly owned by the Wilf family (who also own the Minnesota Vikings NFL franchise). The development integrates residential apartments, commercial office space, a hotel, healthcare services, sports performance facilities, retail, dining, and entertainment venues on a single campus anchored by the Twin Cities Orthopedics Performance Center (the Vikings' world headquarters and training facility, opened 2018) and TCO Stadium, a 7,500-capacity multi-use outdoor venue. Since the August 2016 groundbreaking, twelve developments have been completed totaling more than 300,000 square feet of commercial and medical office space, a 320-room hotel, and over 450 market-rate apartments, with Phase 3 expansion (327 additional residential units) initiating in spring 2025.

The campus operates as an integrated ecosystem across multiple product categories: Viking Lakes Residences (a luxury suburban apartment community with phases one through three delivering up to ~814 residential units), the Viking Lakes Innovation Center (a 60,000 SF fully leased office building now anchored by CLA's 40,000 SF, 16-year, $10M Connection Center opened May 2025), the Omni Viking Lakes Hotel (320 rooms operated by Omni Hotels & Resorts, ranked #1 in the Omni brand for guest experience for five consecutive years and welcoming 285,000+ guests since opening October 2020), Twin Cities Orthopedics Eagan Clinic, Training HAUS (a 22,000 SF elite sports performance facility), the Vikings Museum, and various retail and dining outlets. Recurring revenue streams include commercial real estate leasing, residential apartment rentals, hotel ground lease income, event venue rentals at TCO Stadium and community spaces, retail and restaurant tenant rents, and medical and training service revenue.

The development receives no public subsidies or tax breaks and operates as a private enterprise. Viking Lakes draws on Wilf family capital and partnerships with major professional sports organizations (Minnesota Vikings, Premier Lacrosse League, Minnesota Aurora FC, TC Gemini) to drive year-round campus activation through events, sports tournaments, and community programming including the Winter SKOLstice winter festival (55,000 visitors in 2023). The current development represents approximately 10% of the planned 3M+ SF master build-out, with future phases identified for corporate campus relocation or life sciences office development.

Name

Viking Lakes

Legal name

MV Ventures

Website

https://explorevikinglakes.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Viking Lakes is a 200+ acre mixed-use master development in Eagan, MN, operated by MV Ventures (Wilf family). It integrates luxury apartments, Class A office, a hotel, healthcare, sports facilities, and entertainment anchored by the Minnesota Vikings headquarters and TCO Stadium.

Ownership category

akta.pro rank

Product category

Mixed-Use Real Estate Development

NAICS

Hotels (except Casino Hotels) and Motels (721110), Museums, Historical Sites, and Similar Institutions (712)

SIC

Hotels & Motels (7011), Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Services-Amusement & Recreation Services (7900), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Marina & Waterfront Full-Service Hotels (THAGAAAK)

Keywords

• Mixed-use real estate development
• Luxury apartment rentals
• Commercial office leasing
• Hospitality and hotel operations
• Sports and event venue management

Headquarters

HQ city

Eagan

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain, Others

Revenue model

1. Commercial Real Estate Leasing: MV Ventures generates revenue through leasing office space (Viking Lakes Innovation Center, 60,000 SF), medical space (Twin Cities Orthopedics Eagan Clinic), and commercial spaces to retailers and service providers. Long-term leases like CLA's 16-year, $10M connection center commitment provide stable income.
2. Residential Apartment Leasing: Viking Lakes Residences offers market-rate luxury apartments with 222 current units plus 230+ units in phase two expansion, with phase three adding 327 more units. Revenue comes from monthly apartment rents.
3. Hospitality Operations: Omni Viking Lakes Hotel (320 rooms) operated by Omni Hotels & Resorts generates room revenue, food & beverage (Kyndred Hearth restaurant), spa services (Idlewild Spa), and event/meeting space rental. Hotel ranked #1 in Omni properties for guest experience for five consecutive years.
4. Event Venue Rentals: TCO Stadium (7,500 capacity) and community spaces host sporting events (PLL, soccer, rugby), concerts, corporate events, and private functions. Ticket sales through Ticketmaster for major events. Rental revenue from corporate events and private bookings.
5. Retail and Restaurant Operations: Campus includes retail and dining tenants including Copper & Rye restaurant, Velvaere Mae salon, and other food & beverage outlets. Commercial tenants pay rent, contributing to overall campus revenue.
6. Sports Medicine and Health Services: Twin Cities Orthopedics Eagan Clinic provides orthopedic services, urgent care, physical therapy, imaging, and surgery center. Training HAUS provides athletic performance training. Medical services attract both athletes and general community patients.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels6 records

Core offering

Viking Lakes develops, leases, and operates a 200+ acre mixed-use campus in Eagan, MN encompassing luxury residential apartments (Viking Lakes Residences), commercial office space (Viking Lakes Innovation Center), a 320-room hotel (Omni Viking Lakes), an orthopedic clinic (Twin Cities Orthopedics Eagan), sports performance facilities (Training HAUS), a 7,500-seat stadium (TCO Stadium), museums, retail/dining tenants, and year-round event programming. Revenue is generated through long-term commercial leases, monthly residential rents, hotel room and F&B revenue, event ticketing, and tenant retail rents.

Product overview

Viking Lakes is a 200+ acre mixed-use master development in Eagan, MN featuring a diverse portfolio of physical venues, facilities, residential, hospitality, retail, and entertainment offerings. The core campus is anchored by the Minnesota Vikings headquarters (Twin Cities Orthopedics Performance Center and TCO Stadium) and includes commercial office space (Viking Lakes Innovation Center), residential apartments (Viking Lakes Residences with Phase II expansion), a 320-room hotel (Omni Viking Lakes Hotel), medical services (Twin Cities Orthopedics Eagan Clinic), sports and wellness facilities (Training HAUS), cultural attractions (Vikings Museum), retail (Locker Room Team Store), dining (Copper & Rye restaurant, Kyndred Hearth at Omni), wellness services (Velvaere Mae salon, Idlewild Spa), and sports teams (Minnesota Aurora FC). The campus hosts year-round events including the Winter SKOLstice winter festival. This is not a software platform but a physical real estate and lifestyle destination.

Differentiator

Problem solved

Functional benefit

Brands

• Viking Lakes Innovation Center: A 60,000 square foot office building with attached parking ramp featuring multiple world-class tenants
• Viking Lakes Residences
• Vikings Museum
• Locker Room Team Store
• Training HAUS

Products and services

• Viking Lakes Residences Resort-style luxury market-rate apartments with quartz countertops, in-unit washer/dryer, gas range, and amenities including 4-lane lap pool, sauna/steam room, 2-lane bowling alley, sports simulator, and outdoor courts for pickleball, tennis, basketball, and sand volleyball. Currently 222 units with phase two and three expansions bringing total planned units to 814 across three phases.
• Viking Lakes Innovation Center

Quantifiable outcome

• 285,000+ hotel guests in five years with #1 guest experience ranking among all Omni properties
• +4 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

17 partnerships are on record, tiered minor, core and anchor.

• Copper & Rye (Trellis Hospitality)minorChannel Partner/ Reseller/ Distributor · 1 May 2026Modern kitchen & bar restaurant opening May 2026 in former Lago Tacos space. Minnesota-based restaurant group owned and operated by Trellis Hospitality, also behind Southern Social, Tamarack Tap Room, Barley + Vine. Offers elevated comfort food and cocktails.
• TC GeminiminorStrategic or Co-development Partner · 1 January 2025Women's elite rugby team competing in second season with home games at TCO Stadium. Part of growing rugby community at campus.
• CLA (CliftonLarsonAllen LLP)coreStrategic or Co-development Partner · 1 February 2024Eighth largest accounting firm in US signed 16-year, $10M lease for 40,000 SF connection center at Viking Lakes. CLA team members from across the country will gather for learning, training, and development. Opened May 2025, bringing 9,000+ employees.
• Velvaere MaeminorChannel Partner/ Reseller/ Distributor · 1 January 2024Nordic-inspired luxury hair salon and wellness center. Third Twin Cities location at 730 Vikings Parkway. Independent stylist rental model. Owner Tiffany Wheelhouse also operates Meraki Hair Lounge in Minneapolis and Saint Paul.
• City of EagancoreStrategic or Co-development Partner · 1 January 2024City of Eagan partnered with Vikings, TCO, and Wilf family on Viking Lakes development. Mayor Mike Maguire and Council Member Gary Hansen welcomed project. Development received no public subsidies or tax breaks.
• Premier Lacrosse LeaguecoreStrategic or Co-development Partner · 1 January 2023Professional lacrosse league returning to TCO Stadium multiple seasons. Hosted 2023 PLL weekend with all eight teams, 2024 season games, and 2025 quarterfinals. Drives significant attendance and national media attention.
• Minnesota Ice FestivalminorStrategic or Co-development Partner · 1 January 2023Annual winter festival at TCO Stadium featuring ice maze, ice rink, sculptures, food trucks. Used 2 million pounds of ice in 2024. Drew 55,000 visitors exceeding 30,000 goal. Attempting world record for largest ice maze (18,000 SF).
• Minnesota Aurora FCcoreStrategic or Co-development Partner · 1 January 2022Professional women's soccer team in USL Super League playing home games at TCO Stadium. Fan-driven ownership model with 3,080 community owners. Averaged 5,500 fans per game, sold out 6 of 9 matches in inaugural season.
• Training HAUScoreTechnology or Integration · 1 January 2021Elite sports performance facility powered by Twin Cities Orthopedics with 22,000 SF of turf, court, studio, and sports science lab space. Built on foundation of sports medicine expertise for athlete training and performance improvement.
• Vikings MuseumcoreStrategic or Co-development Partner · 1 January 202114,000 SF museum at TCO Performance Center chronicles Vikings franchise history with interactive exhibits and historical artifacts. Open to public, showcasing 50+ year team history.
• USTA NorthernminorStrategic or Co-development Partner · 1 January 2021United States Tennis Association Northern section office located on campus. Supports regional tennis programming and community engagement.
• Omni Hotels & ResortscoreStrategic or Co-development Partner · 1 October 2020Omni operates the 320-room Omni Viking Lakes Hotel with Nordic-inspired design. Hotel ranked #1 in Omni brand for guest experience five consecutive years. Brings 285,000+ guests annually and hosts 1,200+ group events. Opened October 2020.
• Kyndred Hearth (Chef Ann Kim)coreStrategic or Co-development Partner · 1 January 2020Signature restaurant led by James Beard Award-winning chef Ann Kim. Located at Omni Viking Lakes Hotel, became one of top dining destinations in Minneapolis/St. Paul area. Supports hotel events and community dining.
• Minnesota VikingsanchorStrategic or Co-development Partner · 1 January 2018The Minnesota Vikings serve as the anchor tenant with their world headquarters and training facility (Twin Cities Orthopedics Performance Center) at Viking Lakes. The partnership with owner Mark Wilf's family makes the Vikings the primary sports anchor driving campus development and event traffic. Opened 2018.
• Twin Cities OrthopedicscoreStrategic or Co-development Partner · 1 January 2016TCO is a founding partner with full-service orthopedic and sports medicine clinic at Viking Lakes. Partnership includes TCO Performance Center naming rights, Eagan clinic, and powers Training HAUS facility. Multiple service lines including urgent care, therapy, imaging, and surgery center.
• Crawford ArchitectsminorStrategic or Co-development Partner · 1 January 2016Architecture firm partnered on original Twin Cities Orthopedics Performance Center and TCO Stadium development. August 2016 groundbreaking marked first steps in Viking Lakes development.
• Kraus-Anderson Construction CompanyminorStrategic or Co-development Partner · 1 January 2016Construction company partnered on original Viking Lakes development including TCO Performance Center and TCO Stadium. August 2016 groundbreaking.

Scale indicators16 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• The Star (Dallas Cowboys World Headquarters, Frisco, TX): 180+ acre mixed-use development anchored by the Dallas Cowboys' headquarters and training facility. Most directly comparable to Viking Lakes in terms of NFL-anchored, sports-anchored mixed-use model with adjacent office, retail, and entertainment components.
• The Battery Atlanta (Atlanta Braves Development): Mixed-use entertainment district built around Truist Park (Atlanta Braves MLB stadium) including office, retail, hotel (Omni), residential, and entertainment. Closest analogue in terms of sports-anchored, multi-vertical live-work-play campus with an Omni hotel co-located.
• Legacy West (Plano, TX): 255-acre master-planned mixed-use development anchored by Toyota's North American headquarters, with a 303-room Renaissance Hotel, Class-A office, luxury apartments, and retail. Comparable suburban, corporate-anchored, hotel-and-residential mix.
• Domain Austin: Master-planned mixed-use development in North Austin featuring Class-A office, luxury apartments, hotels, retail, and entertainment. Comparable in scale and recurrent corporate tenancy to Viking Lakes' office and residential components.
• SoFi Stadium and Hollywood Park Development: 300+ acre mixed-use development built around SoFi Stadium (NFL/LA Rams and Chargers) including office, retail, hotel, residential, and casino. Closest comparable for a major professional sports anchor driving a master-planned mixed-use campus.

Broad incumbents

• American Dream (East Rutherford, NJ): Large-scale entertainment and retail complex adjacent to MetLife Stadium. Operates at a different scale but overlaps with Viking Lakes on event-driven experiential entertainment, dining, and family-oriented attractions.
• Howard Hughes Holdings (master-planned communities): Developer/operator of large-scale master-planned communities such as The Woodlands, Summerlin, and Bridgeland. Comparable in executing multi-decade, mixed-use master development with residential, commercial, and amenity components.
• The Greenbrier (Greenbrier Corporation, White Sulphur Springs, WV): Historic resort destination mixing hotel, residential, retail, sports, and entertainment assets under a single branded campus. Comparable in multi-vertical asset integration and event-driven programming, though at a different scale and geography.

Emerging players

• Cordish Companies (Live! Casino & Hotel, Power Plant Live): Family-owned developer and operator of mixed-use entertainment districts, sports-anchored properties, and branded hotels. Comparable in combining sports, entertainment, hospitality, and residential in one destination-driven campus.

Others

• MV Ventures (Garden Communities / Wilf Family Real Estate): Parent entity of Viking Lakes. Owns/operates 60,000+ apartments across 30+ states through Garden Communities. While not a direct operational peer, MV Ventures provides the development pipeline and capital base that funds Viking Lakes expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/VikingLakesEagan
• Xx.com/vikinglakes
• LinkedInlinkedin.com/company/mv-ventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Viking Lakes