Lion Rock Properties Acquires 88-Unit Grandview Terrace In Mound Minnesota For $9.8 Million

The transaction involved the sale of Grandview Terrace, an 88-unit multifamily property located at 5600 Grandview Boulevard in Mound, MN. The property changed hands for $9,800,000, resulting in a price per unit of $111,364.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $9,800,000
• Units: 88
• Price Per Unit: $111,364
• Market: Mound, MN
• Seller: IPG
• Buyer: Lion Rock Properties
• Brokers: Abe Appert, Keith Collins & Ted Abramson - CBRE

CBRE arranged the sale and represented the seller, with the brokers indicating that investors were attracted to the property's proximity to various local amenities and the potential for renovations.