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Chicago & Midwest  + Midwest  + Apartments  | 
2024 Clarence Street Maplewood MN

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. 

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Marcus & Millichap's Miller

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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