Updated Feb 11, 2026
David Tysk And Scott Manning Acquire Panther Heights Apartments From Alliance Building Corporation For $12.5M
2905 14th Street East
$12,500,000
Units
86
Asset Type
MultiFamily
Closing
Feb 10, 2026
About this deal
AI
The transaction involved the sale of the Panther Heights Apartments, a multifamily property consisting of 86 units located at 2905 14th Street East in Glencoe, Minnesota. The asset was sold for $12.5 million, translating to approximately $145,349 per unit. The property was developed in 2019 and was part of a broader estate-planning portfolio strategy when marketed.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,500,000
- Units: 86
- Price Per Unit: $145,349
- Buyer: David Tysk & Scott Manning
- Seller: Alliance Building Corporation
- Brokers: Steve Michel, Heidi Addo, Jesse Thurston, Peter Michel, Phil Reesnes & Ukee Dozier - Michel Commercial
The buyers, David Tysk and Scott Manning, were able to secure the asset after multiple competitive offers were presented. Michel Commercial Real Estate played a significant role in representing the seller, Alliance Building Corporation, during the transaction.
Players
Glencoe 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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93