PCCP LLC Acquires 204-Unit Livery Modern Apartments In Lakeville From The Garrett Companies For $56M

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.