Updated Dec 4, 2025
PCCP LLC Acquires 204-Unit Livery Modern Apartments In Lakeville From The Garrett Companies For $56M
5076 161st Street West
$56,000,000
Units
204
Asset Type
MultiFamily
Closing
Dec 2, 2025
About this deal
AI
A 204-unit multifamily asset, Livery Modern Apartments, located at 5076 161st Street West in Lakeville, MN, was sold for $56 million. The property was constructed in 2023 and features a mix of one-, two-, and three-bedroom units, providing residents with various living options. Amenities at this complex include a dog park and a fitness center, contributing to its appeal in the market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $56,000,000
- Units: 204
- Price Per Unit: $274,755
- Buyer: PCCP, LLC
- Seller: The Garrett Companies
PCCP, LLC executed the acquisition from Indiana-based The Garrett Companies, marking a significant transaction in the multifamily sector. This sale represents an important business move for both parties involved, reflecting market dynamics and strategic objectives in property investment.
On the Map
$56,000,000
MultiFamily
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Lakeville 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93