Monument Capital Management Announces $ 30.250 Million Acquisition of Rental Apartment Community in West St. Paul, Minnesota
The acquisition of 216 Eagle Point Apartments is the ninth and final acquisition of Monument Opportunity Fund IV
MINNEAPOLIS, September 30, 2021 / PRNewswire / – Management of the capital of monuments, a A-Rod CORP company and one of the country’s leading fully integrated real estate investment firms, announced the $ 30.250 million acquisition of Eagle Point Apartments, a 216 unit multi-family community located at 2044 Oakdale Avenue, West St. Paul, Minnesota.
The acquisition of Eagle Point closes Monument Opportunity Fund IV from Monument Capital Management and represents the fund’s ninth acquisition. This is the fifth global acquisition of Monument in Minnesota, including existing joint ventures.
Jones Lang LaSalle (JLL) represented the sellers, Timberland Partners XXXIV, LLP; Timberland Partners III, LLP and Michael a nelson, LLC. Monument itself represented in the transaction.
Built in 1972, Eagle Pointe is a fully landscaped apartment community on 11.5 acres, consisting primarily of two bedroom residences. It offers a wide range of facilities, including a fitness center, indoor and outdoor swimming pool, tennis court, etc.
Monument will modernize the interior of the units and the exterior of the building, as well as the amenities and general appeal of the community.
“We are extremely optimistic about Minnesota overall, and very satisfied with this particular acquisition, ”said Stuart zook, Director and IT Director of Monument Capital Management. “It corresponds ideally to our acquisition criteria, that of being in a strategic location, near a major employment center.
“Workforce housing is one of the most pressing housing needs,” adds Erin Chevalier, president of Monument Capital Management. “We look forward to exploring other opportunities within Minnesota. “
For more information, please visit http://www.mcmgmtllc.com/.
About Monument Capital Management
Monument Capital Management (MCM), an A-Rod CORP company, is one of the country’s leading fully integrated real estate investment firms. Specifically targeting high demand labor market markets, MCM has acquired more or more $ 900 million of real estate assets in 14 states through opportunity funds and joint ventures. The organization strategically identifies assets in markets with attractive demographics at a transaction size where competition is limited, and its seasoned team can immediately leverage its operational expertise. The company has excelled in its mission of investing in real estate assets where it can add value and deliver superior risk-adjusted returns, while protecting capital and mitigating downside risk.
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SOURCE Monument Capital Management