Michel Commercial closed the sale of Tealwood Apartment Homes, a 213-home community in Bloomington, Minnesota. The property sold for $32.8 million.
Michael Commercial brokers Pete Michel and Heidi Addo negotiated the sale.
Tealwood Apartment Homes was built in 1987 and features a mix of market-rate homes, 65% of the units, and affordable homes, 35% of the unit mix.
The buyer is FPA Multifamily LLC, while the seller is the Belgardes.
