The commercial real estate brokerage firm Marcus & Millichap (NYSE:MMI) announced the sale of The Liberty, a 242-unit multifamily property in the Minneapolis suburb of Golden Valley, Minnesota, for $59.5 million.
Completed in 2017, The Liberty has 55 townhomes and 187 apartments that range from 568 square feet to 1,536 square feet. Amenities include a resort-style swimming pool, fitness center, solar panels, grilling area, and a clubhouse.
“The Liberty is a 96%-occupied luxury apartment and townhome asset poised for continued growth as multifamily supply tapers and demand for well-located suburban properties increases in the Minneapolis-St. Paul area,” said Abe Roberts, senior vice president investments in Marcus & Millichap’s Minneapolis office.
Roberts represented the seller, an entity related to the Schachtman family, and procured the buyer, The Goodman Group, based in Chaska, Minnesota.
Photo courtesy Apartments.com
