Eden Interstate Development News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Minnesota is in a boom of multifamily housing, but there's nothing for people to buy. The reason is economics, and maybe some paranoia.

Plymouth-based Dakota Supply Group has opened its newest location in Mankato, while the developer who built it has sold the real estate to a private investor in Rochester for $6.96M.

Eden Prairie-based Interstate Development has sold the former Quad/Graphics plant in Shakopee for $13.45 million, just two years after buying the vacant 160,000-square-foot plant for $3.675 million.

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 Cry...

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