Black Swan Living Acquires Uptown Apartments From Paramark For $5.35M

The property involved in the transaction is a multifamily asset known as the Uptown Apartments. It is located at 1721 3rd Street Southwest in Rochester, Minnesota. The property sits on 0.7 acres of land and consists of 29 units. The sale price for this transaction was $5,350,000, translating to a price per unit of $184,483.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,350,000
• Units: 29
• PPU: $184,483
• Address: 1721 3rd Street Southwest
• Market: Rochester, Minnesota

The buyers in this transaction were Elaine & Nick Stageberg, representing Black Swan Living, based in Rochester. The sellers were Michael Busch from Paramark Real Estate Services. Black Swan Living has significantly expanded its portfolio through this acquisition, now owning more than 1,000 units in Rochester alone and over 1,300 units across Rochester and Tacoma, Washington. The acquisition was made through Uptown Apartments Asset Management LLC,