Monument Capital Management, an A-Rod Corp company and one of the country’s premier fully integrated real estate investment firms, announced the sale of Lexington Hills Apartments in Eagan, Minnesota. The sales price was not disclosed.
The buyer was Reacor Ltd., an Eden Prairie-based real estate firm. Ted Abramson, Keith Collins and Abe Appert of CBRE represented Monument in the transaction. The community was being managed by Monument Real Estate Services, Monument Capital Management’s sister company.
Originally acquired in 2016 as Monument’s entry into Minnesota, the firm has a portfolio of eight properties in the state. Developed in 1988, the seven-building Lexington Hills Apartments, located at 4116 Lexington Avenue South in Eagan, has had significant upgrades under Monument’s ownership.
“This sale was a positive step for Monument’s investors,” said Stuart Zook, Chief Investment Officer of Monument Capital Management. “We are bullish about Minnesota’s long-term potential within the workforce housing space and are continually looking for additional opportunities.”
Monument Capital Management (MCM), an A-Rod Corp company, is one of the country’s premier fully integrated real estate investment firms. Specifically targeting markets with a strong demand for workforce housing, MCM has acquired almost $1 billion of real estate assets across 14 states through opportunity funds and joint ventures. The organization strategically identifies assets in markets with attractive demographics at a deal size where competition is limited, and its seasoned team can immediately leverage its operational expertise. The firm has excelled at 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 risks.
