10/31/2007

Minnesota multi-family brings $20.6 million

by

Rochester Village Apartments

Rochester Investment Partners has acquired the Rochester Village Apartments in Rochester, Minn., from Bloomington, Minn.-based Rochester Associates for $20.6 million, or $50,024 per unit.

Keith Collins of CB Richard Ellis brokered the deal.

The 412-unit complex is located at 2010 41st St. and contains 359,696 square feet. Built in 1972, the property contains a mixture of one-, two- and three-bedroom apartments.

Collins joined CBRE in 1996 and is now a first vice president with the company. He specializes in disposition of multi-family apartment properties. In 1999 he served as president for the Minnesota/South Dakota CCIM Chapter and has received the Chairman's Club and Millennium Club Awards in 2003-2006.

Address: 2010 41st St., Rochester, Minn.

Size: 359,696 square feet/412 units

Built: 1972

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Filed Under: Multi-Family

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