Michel Commercial closed the sale of the Barcelona Apartments, a 71-home apartment complex in Crystal, Minnesota.
Developed by John R. Paulson Sr. in 1972 and meticulously maintained by Paulson Family Properties (PF Properties), this transaction marks PF Properties’ second sale of a long-held asset. These sales enable them to transition into a newer, Class-A property, ensuring the continuation of the family’s legacy in property ownership and management for the next generation.
The Barcelona Apartments garnered significant interest, attracting multiple offers in a competitive bidding environment. The buyers, Ben Michel and Scott Kirchner, have plans for a comprehensive renovation, covering both the common areas and individual units. Additionally, they intend to introduce a range of amenities including a fitness center, community room, package room, sauna, dog wash, and dog park.
