MLG Capital Acquires Multifamily Asset Lyra At Riverdale Station In Coon Rapids For $42.75M

The asset involved in this transaction is a multifamily property located at 3120 Northdale Boulevard Northwest, known as Lyra at Riverdale Station, situated in Coon Rapids. The property consists of 180 units and has a total square footage of 172,104, with a price per unit of $237,500 and a price per square foot of $248. The transaction was completed for a total sale price of $42,750,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $42,750,000
• Units: 180
• Square Footage: 172,104
• Price Per Unit: $237,500
• Price Per Square Foot: $248
• Buyer: MLG Capital
• Seller: Sherman Associates
• Seller's Representatives: Josh Talberg, Joseph Peris & Elijah Smith - JLL

The transaction involved key representatives from both sides, with Josh Talberg, Joseph Peris, and Elijah Smith representing Sherman Associates through JLL. MLG Capital acted as the buyer in this significant multifamily property acquisition.