Hall Sweeney And Ridgeview Property Group Acquire Hillcrest Place Apartments From Curtis Capital Group For $16.2M

The property asset involved in the transaction is located at 165 County Road B2 East in Little Canada, MN, encompassing 5.5 acres. This multifamily property features 111 units and was sold for $16,200,000, which equates to approximately $145,946 per unit. The property has undergone upgrades by the seller since 2018.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,200,000
• Address: 165 County Road B2 East
• Market: Little Canada, MN
• Units: 111
• Price Per Unit: $145,946
• Seller: Curtis Capital Group
• Buyers: Jeff Hall & Sean Sweeney - Hall Sweeney; Ben Michel - Ridgeview Property Group
• Broker: Ted Abramson - CBRE
• Mortgage Broker: Ben Bastian - CBRE

A joint venture led by Hall Sweeney Properties and Ridgeview Property Group acquired the property, facilitated by broker Ted Abramson of CBRE. The buyers intend to pursue further renovations following improvements made by the seller. The financing arrangement includes a 10-year Freddie Mac loan featuring five years of interest-only payments.