Press Releases
Marcus & Millichap Facilitates Sale of 60-Unit Multifamily Property in Minnesota
October 22, 2024
REDWOOD FALLS, Minn., Oct. 22, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Country Village Apartments, a 60-unit apartment property located in Redwood Falls, Minnesota.
“The selling group was looking to divest the asset, which has been held as a long-term investment,” said Chris Collins, first vice president of investments. “The buyer plans to operate the property under the existing affordability requirements while implementing property upgrades over the next few years.”
Collins, Evan Miller, Matt Shide, Zack Olson and Eric Wagner, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a MN Limited Partnership, and procured the buyer, Country Village RF, LLC.
Country Village Apartments, located at 600 E Broadway St., offers one-, two-, and three-bedroom units across five buildings. Built in 1974, the community includes market-rate, tax credit, and income-based homes, as well as amenities like a playground, picnic tables, and ample outdoor space.
“The selling group was looking to divest the asset, which has been held as a long-term investment,” said Chris Collins, first vice president of investments. “The buyer plans to operate the property under the existing affordability requirements while implementing property upgrades over the next few years.”
Collins, Evan Miller, Matt Shide, Zack Olson and Eric Wagner, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a MN Limited Partnership, and procured the buyer, Country Village RF, LLC.
Country Village Apartments, located at 600 E Broadway St., offers one-, two-, and three-bedroom units across five buildings. Built in 1974, the community includes market-rate, tax credit, and income-based homes, as well as amenities like a playground, picnic tables, and ample outdoor space.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
