Colorado-based Monarch Investment and Management Group paid $49.275 million for a Rochester residential portfolio in late May, according to electronic certificates of real estate value recently made public. Centerspace LP, which listed a Minneapolis address, sold the five properties containing a total of 445 residential units located across Rochester. The sales were financed with new mortgages, according to the eCRVs. Monarch bought the 72-unit Crystal Bay Townhomes for $13.65 million, which works out to approximately $189,583 per unit. It has two- and three-bedroom townhomes located along Crystal Bay Court SW., according to Olmsted County property records. The townhome complex is directly east of County Road 8 Southwest and south of Salem Road Southwest. The John Withers Sports Complex and Lake George are neighbors to the east, and the Apache Mall is more than a mile to the northeast. The 115-unit Winchester Apartments, at 3908 19th Ave. NW, was purchased for $9.5 million. This
Rochester Shooting Victim Arrested As Suspected Shooter
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Rochester, MN (KROC AM News) - Two teenagers have been made arrested as suspects in Wednesday night’s shooting in Rochester that sent two teens to the hospital.
One of the suspects was also one of the shooting victims.
Police Capt. Casey Moilanen says the 17-year-old had agreed to sell a gun to the 19-year-old who was shot. They were in a car near Heritage Manor Apartments when a confrontation broke out. Moilanen says the 17-year-old then “fired multiple shots.” The victim was apparently hit twice in the chest and then removed from the car before it left the scene.