The asset involved in this transaction is Birmingham Heights, a multifamily apartment complex located at 1424 Case Avenue East in Saint Paul, MN. The property spans 2.04 acres and consists of 28 three-bedroom units, which were sold for a total of $3,640,000, equating to a price per unit of $130,000. This transaction reflects the highest price per unit for similar properties in the area in recent years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,640,000
• Units: 28
• Price Per Unit: $130,000
• Market: Saint Paul, MN
• Sale Date: 10/08/2024
• Acres: 2.04
• Brokers: Chris Collins, Eric Wagner, Evan Miller, Matt Shide & Zack Olson - Marcus & Millichap
• Broker of Record in Minnesota: Jon Ruzicka
• Buyer: Out-of-state buyer expanding Minnesota portfolio

The transaction was facilitated by Marcus & Millichap, highlighting the efforts of the brokerage team in closing this deal. The involvement of the Broker of Record in Minnesota underscores the support provided to the out-of-state buyer in navigating the local market dynamics.