Hegenes Properties Inc. Acquires The Village MultiFamily In Excelsior For $4.5M

The three-story apartment building located at 322 Lake Street in Excelsior, Minnesota, known as The Village, has been sold in a recent transaction. The property offers stunning views of Lake Minnetonka and sits on a land area of approximately 0.35 acres. The sale was facilitated by brokers Jeff Budish and Ted Bickel from NorthMarq, representing the buyer and seller respectively.

Summary of transaction details

• Property Type: MultiFamily
• Sale Price: $4,500,000
• Address: 322 Lake Street, Excelsior, Minnesota
• Market: Excelsior, Minnesota
• Land Area: 0.35 acres
• Buyer: Hegenes Properties Inc. - Ryan Sather
• Seller: Bruce Anderson
• Brokers: Jeff Budish & Ted Bickel - NorthMarq

Hegenes Properties Inc., a local property management company represented by Ryan Sather, acquired The Village. The buyer plans to explore various upgrades and improvements for the property, including unit enhancements and repurposing of existing spaces. This transaction reflects the continued investor interest in the Excelsior market and the potential for value realization through strategic property management.