Updated Aug 18, 2026
Pine View Investment LLC Acquires Pineview Apartments Multifamily Complex For $9.306M In White Bear Lake
1620 9th Street, 1626 9th Street, 1634 9th Street & 1640 9th Street
$9,306,000
Units
72
Asset Type
MultiFamily
Closing
Aug 14, 2026
About this deal
AI
Four properties located at 1620, 1626, 1634 & 1640 9th Street in White Bear Lake, MN, were involved in a multifamily sale transaction. The properties comprise a 72-unit complex and were sold for $9,306,000. The transaction was finalized on August 14, 2026.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,306,000
- Buyer: Pine View Investment LLC
- Seller: Pineview White Bear LP
- Brokers: Phil Reesnes & Jesse Thurston - Michel Commercial
Pineview Apartments attracted multiple competing offers before the sale to Pineview White Bear LP, an entity affiliated with Reacor. The brokerage firm Michel Commercial Real Estate, represented by Phil Reesnes and Jesse Thurston, facilitated the transaction, highlighting the rent-growth potential of the property through planned interior renovations.
On the Map
$9,306,000
MultiFamily
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Players
Fernwood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.70%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93