Marcus & Millichap Arranges Sale of 30-Unit Apartment Property in Chaska, Minnesota

CHASKA, Minn., Sept. 3, 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 Townsquare Apartments, a 30-unit apartment property located in Chaska, Minnesota. The property sold for $4,286,000.

"We had a record number of showings for this listing with 36 individual tours" said Abe Roberts, senior vice president investments. "Investors were mostly attracted to the location, quality of construction and upside on the rents."

Roberts and Michael Jacobs, investment specialists in Marcus & Millichap's Minneapolis office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer. Jon Ruzicka, Broker of Record in Minnesota, assisted in closing the transaction.

Townsquare Apartments is on a half-acre lot at 220 N. Walnut Street in downtown Chaska, adjacent to Chaska City Square Park. Built in 1989, the complex features 24 two-bedroom and six three-bedroom floor plans.

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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.