Marcus & Millichap Brokers $59 Million Luxury Multifamily Asset Sale in Suburban Minneapolis
Marcus & Millichap (NYSE:MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of The Liberty, a 242-unit multifamily property in Golden Valley, Minnesota. The asset traded for $59.5 million.
"The Liberty is a 96%-occupied luxury apartment and townhome asset poised for continued growth as multifamily supply tapers and demand for well-located suburban properties increases in the Minneapolis-St. Paul area," said Abe Roberts, senior vice president investments in Marcus & Millichap's Minneapolis office. Roberts represented the seller, an entity related to the Schachtman family, and procured the buyer, The Goodman Group, based in Chaska, Minnesota.
Easily accessible from U.S. Route 169, Minnesota State Highway 55, and State Highway 100, the property is five miles from Downtown Minneapolis. Medicine Lake, Clifton E. French Regional Park, and The Club at Golden Valley are within blocks. Golden Valley is home to the headquarters of General Mills, Pentair, Tennant Company, and other businesses.
Completed in 2017, The Liberty has 55 townhomes and 187 apartments that range from 568 square feet to 1,536 square feet. Amenities include a resort-style swimming pool, fitness center, solar panels, grilling area, and a clubhouse. Apartments have full size washers and dryers, stainless-steel appliances, and balconies.
About Marcus & Millichap, Inc. (NYSE:MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.
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Gina Relva, VP of Public Relations
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