Marcus & Millichap Arranges $11.3M Sale of Apartment Community in Plymouth, Minnesota

by Kristin Harlow

PLYMOUTH, MINN. — Marcus & Millichap has arranged the sale of Lakeview Commons in Plymouth for $11.3 million. Constructed in 1995, the 64-unit apartment community consists of four buildings. The asset is in the final two years of extended-use compliance under the Section 42 Low-Income Housing Tax Credit program. Scott Harris and Abe Roberts of Marcus & Millichap represented the seller, Heartland Properties Inc. The duo also procured the buyer, Glencrest Group, a California-based apartment owner that recently entered the Midwest market.

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