The property asset involved in this transaction is a multifamily property located at 356 Cleveland Avenue in Saint Paul, Minnesota. The property consists of 39 units, with a sale price of $4,318,000, equating to approximately $110,718 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,318,000
• Units: 39
• Price Per Unit: $110,718
• Address: 356 Cleveland Avenue
• Market: Saint Paul, Minnesota

The buyer in this transaction is Jake De Vera representing Women’s Advocates, a St. Paul-based nonprofit organization. On the selling side, Jim & Laura Rubin from Mint Properties facilitated the sale of the vintage apartment buildings. Women’s Advocates has acquired the buildings with a vision to renovate and double the capacity of their emergency shelter for survivors of domestic violence. The expansion project, funded by a $14.25 million capital campaign, aims to provide diverse accommodations, including ADA-compliant units, for survivors of all genders, sexualities, and abilities. The organization closed the acquisition of the buildings on Cleveland Avenue North and has secured significant grants and private donations to support this crucial initiative.