Marcus & Millichap Completes 20-Townhome Portfolio Deal in Wisconsin
Marcus & Millichap closed the sale of a 20-townhome portfolio in New Richmond, Wisconsin, for $4.6 million.
The portfolio consists of 20 townhomes on Norway Pine Circle. Built in 2016, all units are three-bedroom, two-bathroom homes. The property is located in the growing City of New Richmond in St. Croix County, about 40 miles from Minneapolis–Saint Paul.
“Townhome portfolios in New Richmond rarely trade, as most are owned by individual homeowners, making this a particularly notable transaction for the market,” said Scott M. Anderson, multifamily investment specialist. “This marks the largest townhome portfolio sale in the city to an investment group where the seller was not the original developer.”
Anderson, a multifamily investment specialist in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a Wisconsin-based investment group, and procured the buyer, a Wisconsin-based syndication.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout