Coast View Strategies Acquires Multifamily Properties In Anoka And Crystal For $15.9M

The sale transaction involved two multifamily properties located at 650 Garfield Street East and 7201 36th Avenue North in Anoka and Crystal, MN. The assets were sold for $15,900,000 and consist of a total of 131 units, resulting in a price per unit of $121,374. Both properties were more than 95% leased at the time of the sale, and over $2 million was invested in renovations since 2015.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $15,900,000
• Buyer: Coast View Strategies
• Seller: Bader Management Inc
• Brokers: Adam Haydon, Dan Linnell, Devon Dvorak & Mox Gunderson - Colliers
• Units: 131
• Price Per Unit: $121,374

Colliers facilitated the transaction, bringing expertise and market knowledge to secure the deal for both the buyer and seller. The representatives involved in the negotiation played a crucial role in the successful completion of the sale.