Desmond McNelis Of Highland Management Group Acquires Venue Apartments From Brian Roers For $38.19M

A mixed-use property located at 541 West 78th Street in Chanhassen, MN, was sold for $38,190,000. The asset comprises 134 units, with a price per unit of $285,000. The property features a ground-floor ALDI grocery store and is financed through an assumable mortgage at 3.13% interest.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $38,190,000
• Buyer: Desmond McNelis - Highland Management Group
• Seller: Brian Roers - Roers Cos
• Broker: Mox Gunderson - Colliers
• Units: 134
• Price Per Unit: $285,000

This transaction ranks among the top 10 Twin Cities suburban apartment transactions in 2025, with the grocery-anchored retail component contributing a typical 10% rent premium to the overall value of the property.