Michael Foods Inc Acquires 48-Unit Multifamily Property In Gaylord For $2M

The multifamily property located at 10 8th Street in Gaylord, MN, known as Gaylord Villas, was sold for $2,000,000. The asset comprises 48 units, making the price per unit $41,667. The buyer, Mike Elliott of Michael Foods Inc, acquired the property from the seller, Gaylord Villa LLC, in a transaction that addressed workforce housing challenges in the area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,000,000
• Units: 48
• Price Per Unit: $41,667
• Buyer: Mike Elliott - Michael Foods Inc
• Seller: Gaylord Villa LLC

Michael Foods Inc, a company based in Hopkins, demonstrated their commitment to addressing workforce housing challenges by successfully completing the acquisition of Gaylord Villas. This transaction not only signifies a change of ownership but also highlights the strategic investment decisions made by companies to positively impact the communities where they operate.