Dakota REIT Acquires 304-Unit Multifamily Portfolio In Ramsey And Zimmerman For $66.6M

A three-property, 304-unit apartment portfolio located at 7555 145th Avenue Northwest, 14450 Rhinestone Street, and 26125 Main Street in Ramsey and Zimmerman, MN, was sold for $66,600,000. The properties, part of the multifamily asset type, traded between $13.5M and $27.6M, with a price per unit of $219,079.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $66,600,000
• Buyer: Dakota REIT
• Seller: Partner Apartments
• Units: 304
• Market: Ramsey & Zimmerman, MN

This transaction was brokered by Mox Gunderson, Dan Linnell, Adam Haydon, and Devon Dvorak from Colliers, who also facilitated a separate sale of Birch Grove Estates in Zimmerman for $24.5 million.