Black Swan Living Acquires Cascade Apartments In Rochester For $7.275M From Patina Management

The property asset involved in this transaction is a fully leased multifamily community located at 957 Pendant Lane Northwest in Rochester, MN. The asset was sold for $7,275,000, encompassing 36,913 square feet of space, which translates to a price per square foot of $197. The community consists of 44 units, leading to a price per unit of $165,341.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,275,000
• Square Footage: 36,913
• Sale Price per Square Foot: $197
• Units: 44
• Price per Unit: $165,341
• Buyer: Black Swan Living
• Seller: Patina Management
• Brokers: Chris Collins, Lance Steiger, Evan Miller & Erin Salway - Cushman & Wakefield

Cushman & Wakefield successfully facilitated the all-cash sale of Cascade Apartments, which received eight competing offers. The brokers representing the seller, Patina Management, were Chris Collins, Lance Steiger, Evan Miller, and Erin Salway.