Michel Commercial brokered the sale of Groveland Terrace, an 18-unit apartment property in St. Paul, Minnesota.
The At Home Apartments team engaged the Michel Commercial team to sell the Groveland Terrace Apartments.
The Michel Commercial team brought the property to market, maximizing its market exposure resulting in 14,439 views of the marketing materials, which led to 14 tours and multiple offers. While many St. Paul properties have faced lower investor interest due to the recent rent control ordinance, the property’s prime location on Grand Avenue in the Macalester-Groveland neighborhood, near Macalester College, stood out. One interested buyer even described the location as being “like lakefront property.”
The At Home Apartments team’s strong reputation for integrity and their commitment to maintaining quality homes for residents provided additional assurance to investors of the building’s quality and its solid resident base.
The property was sold for cash in a quick close to long-time St. Paul investors with a proven track record of success. The sellers and the buyers were exceptional to work with, and all parties were pleased with the outcome of this transaction.
