Simek Property Group sold its fourth apartment property this year — this one in St. Paul, Minnesota — in a 1031 Exchange.
Parkway Flats, at 931-945 St. Paul Avenue in the Highland Park neighborhood of St. Paul, recently sold for $2.45 million. This two-building property contains 20 units consisting of one and two bedrooms.
Simek bought the property in 2014 and completed a renovation that included new kitchens, bathrooms, windows, roof and common areas. The property is located near the eastern edge of the Highland Park Ford redevelopment site.
