CBRE has executed the sale of a seven-building, 174-unit multifamily portfolio in St. Paul, Minnesota.
The seven brownstone buildings were sold by Live Green Apartments to a private investor in a transaction that closed June 10. A sale price was not disclosed.
Ted Abramson, Drew Rafshol, Keith Collins and Abe Appert from CBRE Minneapolis Multifamily represented the seller, Live Green Apartments, in the transaction. The portfolio is 99 percent occupied.
During the last several years, ownership invested significant capital throughout the portfolio, updating roofs, windows, boilers, common areas and landscaping. In addition to the common areas, units and laundry rooms have been professionally maintained with new flooring, refinished flooring and other improvements consistently being completed.
Ownership has displayed its commitment to environmental sustainability, working to implement eco-management strategies to protect the communities in which they work and live. The focus on sustainability offers an expense savings as well as a commitment to sustainability.
