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Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the SpringBrook Apartments, an expansive 361- unit apartment complex featuring 242 detached garage stalls and resort-style common areas. This rare offering is for sale for the first time. Built in 1987, the Property is a value-add investment opportunity and is well positioned for strong rental growth through interior upgrades. A portion of the units have been renovated and serve as a model for the rental growth potential.
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Summit University neighborhood of St. Paul. Built between 1888 and 1913, this value-add portfolio offers spacious units and historic charm. The portfolio is comprised of: (8) Efficiency units, (6) one-bedroom units, (8) one-bedroom + den units, (8) three-bedroom units, and (2) four-bedroom units. The properties were last updated in the 80's and 90's, during which 10 units were turned into large 2-story apartments. With one exception, all buildings have been converted to circuit breakers. Conveniently located, residents enjoy access to all St. Paul has to offer including Concordia University and the University of St. Thomas, restaurants, parks, trails, highways, local schools, and more.
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Under Contract
The Victory Apartments were built in 1978 with a 3-story above ground, barrier free design and a pitched roof. The property consists of 27 one bedrooms, 12 two bedrooms and 12 detached garages. Some amenities include air conditioning, laundry facility, community room, outdoor patio with BBQ, secured entry, elevator and an office. The Victory Apartments is a Project Based Section 8 Property that provides housing to seniors and people with disabilities. The building has a fire alarm system and a sprinkler system and is heated with electric baseboards. The property is 100% occupied with a waiting list. In the last 5 years the property has received a new roof, new casement windows, and a new steel siding and rock wainscoting exterior.
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The Falcon Heights Town Square Senior Apartments and the Falcon Heights Town Square Apartments are located in Falcon Heights, MN in Ramsey County. These properties have a total, combined unit count of 175-units and are a mix of market rate (65%) and affordable (35%) units. The sale includes approximately $1.7 million in TIF. The Falcon Heights Town Square Senior Apartments were built in 2003 and have 56 units (32% of the portfolio). This property features one-bedroom units, one-bedroom + den units, and two-bedroom units that vary in size and style. About 95% of the units are market rate and 5% of the units are affordable. Each unit has an in-unit washer and dryer, central heat and air conditioning, a dishwasher, a microwave, a refrigerator, a self-cleaning oven, a step-in shower, and is cable/ satellite ready. This independent, senior (62+) living community also has a 24-hour fitness room, a game room, a puzzle room, a media room with internet, a library, two community areas with fireplaces, and an outdoor community space. The Falcon Heights Town Square Apartments were built in 2004 and have 119 units (68% of the portfolio). This property features one-bedroom units, two-bedroom units, and three-bedroom units that vary in size and style. About 51% of the units are market rate and 49% of the units are affordable. Each unit has an in-unit washer and dryer, air conditioning, a dishwasher, a refrigerator, a self-cleaning oven, and generous closet space. This property also has multiple retail spaces with great visibility on the ground floor. The Falcon Heights Town Square Senior Apartments and the Falcon Heights Town Square Apartments feature ample heated underground parking ($50/month) as well as surface parking. These properties are centrally located and the residents enjoy the close proximity to I-35W and Highway 36. The convenient location also allows for easy access to: the Rosedale Mall, downtown St. Paul, local businesses, parks, trails, the Mississippi River, local schools, restaurants, bus lines, and more. The Falcon Heights Town Square Senior Apartments and the Falcon Heights Town Square Apartments offer comfortable and spacious living with an urban suburban feel.
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Sold Properties

$ 1,188,000
The 1222 Westminster Street apartments is a 12-unit apartment property located in St. Paul, MN in Ramsey County. Built in 1970, this property consists of: (1) studio unit, (2) one-bedroom units, and (9) two-bedroom units that vary in size and style. Half of the units have been updated and each unit has air conditioning, a self-cleaning oven, and a refrigerator. This property also offers on-site laundry facilities as well as surface parking ($10/month). Conveniently located, residents enjoy easy access to downtown St. Paul, local businesses, parks, trails, the Mississippi River, local schools, highways, shopping, restaurants, bus lines, and more. The 1222 Westminster Street Apartments offer spacious, economical living near the city yet in a residential setting.
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Michel Commercial Real Estate was founded by Steve Michel in 1987 and is focused on selling multifamily housing. The firm has sold over $1,950,000,000 in apartment sales and is known for extensive regional & national marketing, strong relationships, and negotiation expertise. Recognized as a top dealmaker, Michel Commercial Real Estate generally trades 1,500 units each year and represents both private and institutional investors. Michel Commercial Real Estate regularly receives the ‘Power Broker Award’ for being among the highest overall in apartment transaction volume in the Twin Cities multifamily market.

The Executive Team

Over 100 Years of Combined Experience

Steve Michel

President
Steve founded Michel Commercial Real Estate in 1987. He was licensed to sell real estate ...

Peter Michel

Vice President
Peter joined Michel Commercial Real Estate Intl. Inc in 1991 and focuses solely on selling ...

Phil Reesnes

Vice President
Phil joined Michel Commercial Real Estate Intl. Inc. in 2002. Specializing in multifamily ...

Ben Michel

Senior Associate
Ben joined Michel Commercial Real Estate in 2010 as an investment property specialist, and ...

Heidi Addo

Senior Associate
Heidi joined Michel Commercial Real Estate in 2019 after many years of teaching elementary ...

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