Press Releases
Marcus & Millichap Facilitates $5.09M Sale of 36-Unit Multifamily Property Near University of Minnesota’s St. Paul Campus
May 07, 2026
FALCON HEIGHTS, Minn., May 7, 2026 – 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 Falcon View Apartments, a 36-unit multifamily property located in Falcon Heights, Minnesota. The property sold for $5.09 million.
“We continue to see strong interest in the submarket of Falcon Heights,” said Michael Jacobs, director investments. “Falcon View Apartments are well maintained with larger units and robust rents. Ultimately, the 1031 exchange buyers were attracted to the renovated interiors, in-place yield and location.”
Jacobs, Abe Roberts and Tommy Hartwell, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, A Local Ownership Group.
Falcon View Apartments is situated on 1.56 acres at 1800-1818 Larpenteur Ave. W. near the University of Minnesota’s St. Paul campus. Built in 1968, the property consists of two 18-unit buildings with a mix of one-, two- and three-bedroom floor plans totaling 36,768 rentable square feet.
“We continue to see strong interest in the submarket of Falcon Heights,” said Michael Jacobs, director investments. “Falcon View Apartments are well maintained with larger units and robust rents. Ultimately, the 1031 exchange buyers were attracted to the renovated interiors, in-place yield and location.”
Jacobs, Abe Roberts and Tommy Hartwell, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, A Local Ownership Group.
Falcon View Apartments is situated on 1.56 acres at 1800-1818 Larpenteur Ave. W. near the University of Minnesota’s St. Paul campus. Built in 1968, the property consists of two 18-unit buildings with a mix of one-, two- and three-bedroom floor plans totaling 36,768 rentable square feet.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
