Michel Commercial Facilitates $13.975M Sale Of 99-Unit GreaterMN Portfolio In Minnesota

The transaction involved the sale of a multifamily asset comprising two developments: the 42-unit Avon Estates located at 451 Winden Way in Avon, Minnesota, and the 57-unit Mainstreeter Apartments at 800 Main Street in Sauk Centre, Minnesota. The overall sale price was $13,975,000, amounting to an average price per unit of $141,162 across the 99 units in the GreaterMN Portfolio.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,975,000
• Units: 99
• Price Per Unit: $141,162
• Market: Avon & Sauk Centre, MN
• Brokers: Steve Michel, Peter Michel, Phil Reesnes, Heidi Addo, Jesse Thurston, Ukee Dozier - Michel Commercial

Michel Commercial Real Estate successfully facilitated the closing of this transaction, representing the interests of the sellers in this deal involving newer multifamily developments in Minnesota. The combined asset reflects the firm’s continued involvement in prominent market transactions.