Marcus & Millichap Brokers Sale of Two Multifamily Properties in Minnesota
Marcus & Millichap completed the sale of Brookwood Apartments and Pine Pointe, two multifamily properties totaling 180 units in St. Cloud, Minnesota.
The properties sold for a collective $9.7 million. “St. Cloud remains one of the top rental markets in greater Minnesota, with stable population growth and a strong job base that continues to attract both residents and investors,” said Chris Collins, senior director investments. “These assets’ consistent performance and location in a growing regional hub made them a compelling opportunity for the buyer.”
Collins and Evan Miller, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a Minnesota LLP. Collins and Matthew Shide procured the buyer, a Minnesota LLC.
Brookwood Apartments, located at 1270 Johnson Road, was built in 1987 and includes 102 units. Pine Pointe Apartments, located at 1605 7th Street SE, was built in 1989 and comprises 78 units.
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Jared Ennis
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Rick Recckio
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Greg Corbin
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Essex Property Trust, Inc.
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Josh A
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Bob Tuteur
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Andrew Schildcrout