ST. CLOUD, Minn., Dec. 11, 2024 - 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 Westwind Apartments, a 60-unit senior living apartment property located in St. Cloud, Minnesota. The property sold for $5,476,000, or $91,267 per unit.

"Westwind is a meticulously maintained, senior-designated LIHTC property," said Chris Collins, first vice president of investments. "The purchasing group was eager to add it to their existing St. Cloud portfolio."

Collins, Evan Miller and Eric Wagner, investment specialists in Marcus & Millichap's Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a Minnesota partnership, and procured the buyer, a North Dakota partnership.

Located at 765 Savanna Ave., Westwind Apartments offers a mix of one- and two-bedroom units across 55,686 rentable square feet. Built in 2004, the property spans 4.5 acres and includes community amenities such as heated underground parking and social rooms.

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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. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.