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Marcus & Millichap Closes Sale of Twin Cities LIHTC Property
Marcus & Millichap closed the sale of Park Edge Apartments, a 51-unit, Section 42 Low Income Housing Tax Credit apartment community located in Twin Cities suburb of Maplewood, MN. Located at 2024 Clarence Street N, the property sold for $4,500,000, or $88,235 per unit.
Evan Miller, Chris Collins, and Abe Roberts marketed the property on behalf of the seller. Roberts, Miller and Collins procured the buyer as well.
“There was a favorable turnout with both the quality of groups interested and number of tours; right around 15 tours in a few weeks,” said Miller. Roberts, Collins, Miller and the rest of the multifamily team within Marcus & Millichap’s Minneapolis office had successfully closed on 40-plus transactions throughout 2021.
Constructed in the late 1960s, Park Edge is blocks north of Frost Avenue and five miles northeast of Downtown Saint Paul and 15 miles to Central Minneapolis.
- ◦Sale/Acquisition


