Marcus & Millichap Brokers $5.5M Sale Of 60-Unit Senior Housing Property In Saint Cloud MN

The property involved in this transaction is Westwind Apartments, a 60-unit affordable senior living facility located at 765 Savanna Avenue in Saint Cloud, MN. The asset was sold for $5,500,000 and encompasses a total area of 55,686 square feet. Built in 2004, it caters to the senior housing market.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $5,500,000
• Units: 60
• Price Per Unit: $91,667
• Market: Saint Cloud, MN
• Date of Sale: 12/17/2024
• Brokers: Chris Collins, Eric Wagner & Evan Miller - Marcus & Millichap

The sale was executed between a Minnesota partnership, who sold the property, and a North Dakota partnership, who acquired it. The transaction was brokered by Marcus & Millichap, highlighting the involvement of experienced professionals in facilitating this deal.