Marcus & Millichap arranges the sale of 116-unit apartment building portfolio – Grand Forks Herald

Judith Zeng

GRAND FORKS, N.D. A portfolio that includes residences and city properties are now beneath new possession.

Marcus & Millichap

, a foremost professional actual estate brokerage organization, claims it not long ago sold Desoto Estates and Townhomes and Desoto Residences, a 116-device condominium portfolio positioned in Grand Forks, North Dakota and East Grand Forks, Minnesota.

According to Todd E. Lindblom, regional supervisor of the firm’s Minneapolis place of work, the asset offered for $10,117,850.

Chris Collins, David Wallace, Evan Miller and Matthew Shide, investment specialists in Marcus & Millichap’s Minneapolis business, had the exclusive listing to market the home on behalf of the seller, a limited liability corporation. The purchaser also was secured by the identical staff.

The homes include things like:

Desoto Estates, positioned at 3550 S 17th St., Grand Forks, is produced up of 68 apartment models and was manufactured in 2014.

Desoto Townhomes, 3540 S 18th St., Grand Forks, also built in 2014, features 24 townhome models.

Desoto Residences, a 24-unit local community provided in the sale, was crafted in 1974 and is found at 714 20th Avenue NW in East Grand Forks.

“During promoting, these homes garnished a lot of interest from community and regional potential buyers searching to develop their footprint in the Grand Forks current market,” Collins stated.

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