Marcus & Millichap recently closed the sale of Cedar Pointe Apartments, a 33-unit apartment property located in Richfield, Minnesota. The asset sold for $3.3 million.
Mox Gunderson, Dan Linnell and Josh Talberg, investment specialists in Marcus & Millichap’s Minneapolis office, facilitated the transaction.
Cedar Pointe is part of a larger planned development, The Chamberlain, located just south of a Home Depot and Target. The project will consist of about 284 units, along with the renovation of Cedar Pointe Apartments.
Cedar Pointe Apartments is located at 6270, 6730, 6744 Cedar Avenue South in Richfield. The total project consists of multiple sites bounded by 66th Street to the north, Cedar Avenue to the east, 17th Avenue to the west, and 68th Street to the south.