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NorthMarq Sells Emberwood Apartments In Blaine, MN For $23M

Property Image
SOLD
$23,000,000
Ted Bickel
Jeff Budish

Minnesota

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MultiFamily
Sold 02/19/2024
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Property Image
SOLD

NorthMarq Sells Emberwood Apartments In Blaine, MN For $23M

12664 Central Avenue Northeast

See Similar Deals
MultiFamily
Sold 02/19/2024
Ted Bickel
Jeff Budish
the dealplayerscompscontact
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Summary

MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale

The Emberwood Apartments, a 112-unit multifamily complex located at 12664 Central Avenue Northeast in Blaine, MN, was sold for $23 million. The sale was facilitated by NorthMarq's multifamily investment sales team, with the transaction closing on Feb. 19.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $23,000,000
  • Units: 112
  • Price Per Unit: $205,357
  • Address: 12664 Central Avenue Northeast
  • Market: Blaine, MN

The sale of the Emberwood Apartments involved seller Mike Kaeding of Norhart, along with brokers Jeff Budish and Ted Bickel representing NorthMarq.

Players

Ted Bickel
NorthMarq
Ted Bickel
8 deals$203.9M volume
BROKER
Jeff Budish
NorthMarq
Jeff Budish
8 deals$203.9M volume
BROKER

Details

SOLD
IMAGE: Mike Kaeding, Jeff Budish & Ted Bickel DATE: 02/19/2024 ADDRESS: 12664 Central Avenue Northeast MARKET: Blaine, MN ASSET TYPE: Multifamily SELLER: Mike Kaeding - Norhart BROKERS: Jeff Budish & Ted Bickel - NorthMarq SALE PRICE: $23,000,000 UNITS: 112 ~ PPU: $205,357 NOTE: The Emberwood Apartments, a 112-unit complex in Blaine, sold for $23 million, announced by Northmarq's multifamily investment sales team, with the sale closing on Feb. 19.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$81,714.15
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