Marcus & Millichap (NYSE: MMI) , a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Red River Village, a 66-unit 55+ senior designated apartment property located in Fergus Falls, MN, according to Jon Ruzicka, regional manager of the firm’s Minneapolis office. The asset sold for $7,009,200.
Chris Collins and Evan Miller, investment specialists in Marcus & Millichap’s Minneapolis office and members within the firm’s exclusive National Multi-Housing Group, had the exclusive listing to market the property on behalf of the seller. The buyer was procured by Collins and Miller as well. Red River Village is located at 1060 Village Circle in Fergus Falls, MN. The property was built in 2011 and features eight floor plans ranging from 1 bedroom/ 1 bath to 3 bedroom/1.75 baths. Per Collins, “Red River Village tenants have access to the many desirable amenities such as underground heated parking, multiple community rooms, library, guest suite, community patio, and car wash bay.”
This property marks the 34th transaction Collins, Miller and the rest of Marcus & Millichap’s Minneapolis multi-family team have sold since 2018.
