Hegenes Properties Inc. And Interfaith Outreach Buy 126-Unit Plymouth Colony Apartments For $17M

The Plymouth Colony Apartments, a 126-unit multifamily asset located at 1805 County Road 101, was sold for $17 million in Plymouth, MN. The property, built in 1975, is classified as Class B and offers a price per unit of approximately $134,921. The transaction reflects a significant investment in the multifamily market within the region.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,000,000
• Buyer: Hegenes Properties Inc.; Interfaith Outreach & Community Partners
• Seller: Plymouth Colony Partnership LLP
• Units: 126
• Price Per Unit: $134,921

The buyer, Hegenes Properties Inc. and Interfaith Outreach & Community Partners, intends to invest in the property, aligning with Hegenes' objective of community development. The seller, Plymouth Colony Partnership LLP, had owned the property since its construction in 1975.