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957 Pendant Lane Northwest

Updated Sep 1, 2026

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

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

957 Pendant Lane Northwest

$7,275,000

$197/SF

Building Size

36,913 SF

Asset Type

MultiFamily

Closing

Aug 31, 2026

About this deal

AI

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:

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.

Players

Chris Collins

Marcus & Millichap

Broker

$130.7M

vol

14 deals

Broker
Black Swan Living
Black Swan LivingBuyer

Rochester MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $197 per square foot on a published $7.3M for 36,913 square feet (2026).

Visit Evan Miller to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.18%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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