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2905 14th Street East

Updated Feb 11, 2026

David Tysk And Scott Manning Acquire Panther Heights Apartments From Alliance Building Corporation For $12.5M
SOLDMultiFamily

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:

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

Steve Michel

Michel Commercial

Broker

$99M

vol

7 deals

Broker

Glencoe MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $145.3K per unit across 86 units on a published $12.5M (2026).

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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

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