Minnesota Multifamily Property Trades Hands

Minnesota Multifamily Property Trades Hands
News| May 6, 2025| Jasmine Kilman
Chicago & Midwest + Apartment Buildings

Marcus & Millichap has completed the sale of Van Dyke Village Townhomes, a 20-unit multifamily property located in Maplewood, Minnesota. The property sold for $2.75 million or $137,500 per unit.

“We received significant interest in Van Dyke Village Townhomes due to its townhome-style construction, the strength of the Maplewood submarket and the long-term opportunity to convert to market-rate housing after the LIHTC restrictions expire,” said Evan Miller, first vice president investments. “The seller, who was also the original developer, chose to divest in order to focus on other assets.”

Miller, Chris Collins, Eric Wagner and Matthew Shide, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, Van Dyke Street Homes, Limited Partnership. Miller and Collins procured the buyer, Dadder’s Estates LLC.

Van Dyke Village Townhomes, located at 2191 Van Dyke Street, features two- and three-bedroom units with attached garages. Built in 2004, the 20-unit property is situated on 3.63 acres in Maplewood, a northeastern suburb of St. Paul.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with Greg Mutz, Chairman & CEO of Amli Residential Partners, LLC, and Keynote Interviewer Fred Schreiber, Chief Operating Officer at Connect Midwest Multifamily, on June 4, 2025, at The Midland Hotel, Chicago, IL. Register Today to network with your peers!

Other News

Timberline Partners Spends $83M on WA Multifamily Community

Seattle & Northwest + Apartment Buildings

Timberlane Partners purchased Canopy Apartments, a 336-unit garden-style apartment community located at 923 112th St. SW in Everett, WA, for $82.75M, or $246,279 per unit. The acquisition was made in partnership with NY-based EOS Residential Investors. Canopy is the sixth acquisition through Timberlane Acquisition Fund II (TAF II) and follows the firm’s $37M acquisition of...

Learn more

Trademark, Morgan Advancing 362-Unit Oak Lawn Rental Community

Texas + Apartment Buildings

Trademark Property Company and Morgan broke ground yesterday on a 362-unit Class A multifamily community at 3900 Lemmon Avenue in Dallas’ Oak Lawn neighborhood, adjacent to Turtle Creek. The first residences are expected to be completed in fall 2028, with full delivery in the second quarter of 2029. Costs for the project are estimated at $100...

Learn more

CP Group-Led Team Buys Massive Boca Raton Mixed-Use Project

Florida & Gulf Coast + Apartment Buildings

CP Group, The Georgetown Company and fund manager ACRE, together with investment partner StepStone, acquired Mizner Park in downtown Boca Raton. Brookfield Asset Management was the seller. The acquisition of the 838,840-square-foot office, retail, and residential property represents a full-circle moment for CP Group, which originally developed Mizner Park between 1991 and 1999. Mizner Park...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up