PF Properties Acquires Multifamily Property From Kathy Van Tol For $20.5M

The multifamily property located at 1050 Marsh Street in Mankato, Minnesota, known as M2 Lofts, was sold for $20,500,000. The property spans 140,699 square feet and consists of 89 units, resulting in a price per unit of $230,337 and a price per square foot of $146.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,500,000
• Units: 89
• Price Per Unit: $230,337
• Square Footage: 140,699
• Address: 1050 Marsh Street - M2 Lofts
• Market: Mankato, Minnesota

The sale of the property was facilitated by brokers Heidi Addo, Steve Michel, Peter Michel, Phil Reesnes, and Jesse Thurston from Michel Commercial Real Estate. The buyer was PF Properties, while the seller was Kathy Van Tol of Van Tol Properties.