CBRE has arranged the sale of Mahtomedi Flats, a 36-unit newer construction multifamily property in the Twin Cities suburb of Mahtomedi, Minnesota, at 730 Wildwood Road.
Premier Mahtomedi MN, LLC sold the property to David Kroona in a transaction that closed April 30. A sales price was not disclosed.
Keith Collins, Abe Appert and Ted Abramson from CBRE Minneapolis Multifamily represented the seller, Premier Mahtomedi MN, LLC, in the transaction.
Mahtomedi Flats was built in 2018 and was more than 94 percent occupied at the time of sale. The building offers competitive amenities including a fitness center, BBQ and fire pit area, heated parking, and in-unit washer/dryers. The property benefits from the Mahtomedi school district, which ranks among the top in the state. The Mahtomedi Flats are just south of White Bear Lake, a 2,400-acre year-round recreational lake, as well as Katherine Abbott Park and Wedgewood Park.