NAI Legacy Navigates Purchase of $11.6M Multifamily Portfolio
NAI Legacy is pleased to announce the successful closing of a portfolio of properties in Mankato, MN for $11,600,000. The portfolio consists of 13 properties in rural locations throughout the Mankato MSA, making it a lucrative investment opportunity for the buyer. The sale was handled by Christopher Haas & Chris Missling of NAI Legacy who worked closely with the seller and the buyer to ensure a smooth and seamless transaction.
“We are thrilled to announce this off-market portfolio sale in Mankato.” said Christopher Haas, Senior Vice President of Brokerage. “This is a testament to the strong demand for commercial properties even in rural markets, and we are proud to have been a part of making this transaction a reality.”
The buyer, Autumn Glenn, LLC, is a well-established investment firm with a strong track record of successful real estate investments. The company plans to continue to grow its portfolio in the Mankato area, making this purchase a strategic move.
“A non-profit group owned and managed these properties over the last 29 years and they were purchased by a local and well-respected buyer who kept their eyes on this opportunity over the 20 years. I think it’s important to note that the seller did not choose a buyer based on the highest offer price, rather someone who would continue the legacy of these properties by maintaining high-class living & care for the residents,” said Chris Missling, Senior Vice President – Multifamily & Investments. “Persistence and patience matter when it comes to commercial real estate investments.”
This portfolio sale is a significant event for both the buyer and the seller and demonstrates the continued strength and stability of the commercial real estate market in Mankato, MN. NAI Legacy is committed to delivering exceptional results for its clients and is proud to have been a part of this successful transaction.