Monarch Investment & Management Acquires 589-Unit Multifamily Portfolio in Rochester, Minnesota
ROCHESTER, MINN. — Monarch Investment & Management Group has acquired a six-property, 589-unit multifamily portfolio in Rochester for an undisclosed price. The townhome communities include Crystal Bay, French Creek, Village Green, Winchester, Heritage Manor and Olympik Village. The properties were built between 1962 to 1996 and range in size from 36 to 182 units. Three of the assets (Winchester, Heritage Manor and Olympik Village) are rental properties. Average occupancy across the portfolio is 95 percent. Keith Collins, Abe Appert and Ted Abramson of CBRE Minneapolis Multifamily represented the seller, Premier Mahtomedi MN LLC, in the transaction.