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A-Rod’s Monument Capital Makes Fifth Minnesota Acquisition
Monument Capital Management, an A-Rod CORP company, finalized the $19.75-million acquisition of Ridgebrook Apartments, a 144-unit multifamily community at 5840 73rd Ave. N., Brooklyn Park, MN. Brooklyn Park is located approximately 20 minutes north of downtown Minneapolis.
The acquisition is a joint venture between Monument and unnamed private investors. Monument now owns and manages five multifamily properties in Minnesota totaling 747 units.
North Shore Development Partners was the seller and was represented by Ted Bickel of Colliers. Monument self-represented in the transaction.
Monument will be upgrading the community’s common areas as well as the individual units, replacing appliances and providing renters an enhanced overall experience.
“As an A-Rod Corp company, Monument has a keen interest in Minnesota. We have a strong belief in the long-term growth and evolution of the state, and are proud to be continuously increasing our presence,” said Erin Knight, president of Monument Capital Management.
- ◦Sale/Acquisition
