AV Development Sells 155-Unit Multifamily Property In Oakdale Minnesota For $41.4 Million

The Harlan is a 155-unit multifamily property located at 7570 32nd Street N in Oakdale, Minnesota. This asset was sold for $41.4 million, translating to approximately $267,097 per unit. The property was developed by AV Development and was recently completed, with the sale occurring two years after its completion.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $41,400,000
• Units: 155
• Price per Unit: $267,097
• Seller: AV Development
• Brokers: Dylan Steman, Jeff Budish & Ted Bickel - NorthMarq

A local private investor made its first investment in the Twin Cities multifamily market with this transaction. NorthMarq played a key role in facilitating the sale through the efforts of brokers Dylan Steman, Jeff Budish, and Ted Bickel.