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Monument Capital Makes Eighth Twin Cities Multifamily Deal
Monument Capital Management, an A-Rod Corp company, has acquired Talus, a 192-unit multifamily community in Plymouth, MN, for an undisclosed sum. It’s the first acquisition for the newly launched Monument Opportunity Fund V.
Monument now owns and/or manages eight communities in Minneapolis and surrounding markets, totaling more than 1,000 units.
Ted Abramson, SVP of CBRE, represented the seller, Curtis Capital Group. Monument represented itself.
Monument will carry out extensive improvements throughout the circa-1974 property’s unit interiors while also improving curb appeal, community amenities and buildings.
“We are pleased to have secured our initial acquisition and begin growing our Fund V portfolio,” said Monument president Erin Knight. “The area has proven to be a growing market with various Fortune 500 companies and excellent amenities.”
CIO Stuart Zuck added, “Talus ideally fits our value-add acquisition strategy. It is centrally located in a growing area with ample employment, transportation and excellent long-term potential.”
- ◦Sale/Acquisition
