Featured Listings
Michel Commercial Real Estate is pleased to present an
exclusive listing for the sale of the Station Street Apartments
(“Station Street” or the “Property”), a 108-unit apartment
community located in Big Lake, MN. Station Street offers open
concept living spaces and a wealth of community amenities,
including: a fitness room, an outdoor pool, and a play area for
children.
The Station Street Apartments are located in Big Lake, an exurb
of the Twin Cities. The Big Lake area is known for its beautiful
parks, stunning lakes, and economic development opportunities.
Big Lake is home to many young families who value a closeknit
community as well as easy access to big-city amenities
and employment options. Station Street is a three-minute walk
from the Big Lake Train Station, where commuters can ride the
Northstar Line to downtown Minneapolis in under an hour. The
Property is half a mile from US Highway 10 and just ten minutes
from Interstate 94. Big Lake is within commuting distance of the
Twin Cities making it a desirable location for residents and the
Big Lake market boasts higher rents than the state average year
after year. In addition, the city has added over a thousand singlefamily
and multi-family rental units since 2015 to accommodate
growing demand for housing.
The Station Street Apartments offer a desirable mix of studio,
one, and two-bedroom units and has been a welcomed addition
to the Big Lake community proven by the strong lease-up
velocity. Station Street is a well-built, turn-key property located in
a growing, family-friendly market with competitive rental rates and
access to parks, highways, and employment sectors.
108
Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the Hillcrest Apartments, a 40-unit apartment community. Built in 1963, Hillcrest offers spacious floor plans, private entrances, wood-burning fireplaces, and modern kitchen appliances.
Hillcrest is located in Columbia Heights, a historic, first-ring suburb of Minneapolis. Columbia Heights is home to popular restaurants, beautiful parks, and golf courses. Many residents enjoy the city’s small-town feel, big-city amenities, and easy access to downtown Minneapolis. Hillcrest is directly across the street from Columbia Heights High School and Highland Elementary School, a safe walking distance for many children. The city’s major commercial hub is less than a mile way, with everything from grocery stores and major brands to the iconic Heights Theater. The Property is less than two miles from the Interstate 694 entrance, which connects to Interstates 94 and 35W. University of Minnesota, University of Northwestern, and Bethel University are all located within 6.5 miles of Hillcrest as well.
The Hillcrest Apartments is a value-add investment opportunity with strong in-place income and upside potential through interior and exterior upgrades. Hillcrest is a reliable property located in a family-friendly market with access to parks, highways, and employment sectors.
40
The Anoka/Champlin portfolio is comprised of ten properties with
a total of 115 units. This portfolio features a desirable unit mix of
primarily two-bedroom units with many capital improvements
including: granite countertops (about 92 units), LVP flooring (about
29 units), updated equipment, updated roofs, updated windows,
and newly poured concrete parking lots. The pride of ownership of
the long-time owners is evident through the substantial investment
of high quality materials that they have put into the properties in
order to keep them is good working order.
This portfolio is located in the neighboring, northern suburbs
of Anoka and Champlin. These growing suburbs provide the
convenience and easy access to the many employement sectors
of the Twin Cities by way of US Highway 10 and US Route 169.
These suburbs also have a variety of commuting options with two
light rail lines and the Northstar commuter line. Residents of Anoka
and Champlin enjoy ample walking and biking paths, lively town
centers, and strong community pride.
These well-maintained properties have excellent current and
historical occupancy as well as solid in-place income. This portfolio
offers an immediate, naturally-occuring rent increase opportunity
with rents well below the like-kind rent comparables. In addition,
these properties are an ideal value-add investment opportunity with
substantial rental growth potential through interior upgrades. (The
Anoka and Champlin suburbs have had similar-type properties,
to this portfolio, successfully execute value-add strategies. These
remodeled properties and units have been well-recieved in the
market, proven by their strong rents and strong occupancy.) This
Anoka/Champlin portfolio offers a unique opportunity to capture
a large number of suburban apartment units within a few miles of
each other in two growing cities that offer access to top employers,
cultural amenities, green spaces, and more.
115
Michel Commercial Real Estate is pleased to present an
exclusive listing for the sale of the Morningstar Apartments
(the “Property” or “Morningstar”), a 46-unit apartment
community located in St. Paul, MN. Built in 1964, this three
building complex has a desirable unit mix of mostly one- and
two-bedroom units, as well as on-site laundry facilities, and
surface parking.
The Morningstar Apartments are located in the North End
neighborhood of the city of St. Paul. St. Paul is a major regional
business hub and the third largest metropolitan area in the
Midwest. Morningstar is conveniently located next to a bus
stop and is just minutes from a small commercial hub and less
than a mile from Interstate 35E. The Morningstar Apartments
offers convenient access to green spaces, employment
sectors, and freeways in a robust metropolitan area.
43,905.00 ft2
46
Sold Properties
Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of The Cliffs of Minnetonka (the “The Cliffs”), a sprawling 456-unit apartment community. This rare offering is for sale for the first time. Built in 1985, this community features spacious units, open concept living, in-unit washers and dryers (322 units), heated underground parking, and resort-style amenities.
The Cliffs is located in the city of Minnetonka, one of the most desirable suburbs in the Twin Cities, and situated in the top-rated Wayzata School District. The Cliffs is bordered by residential communities to the north and a robust commercial area directly to the south. Ridgedale Center Mall, one of the busiest malls in the Twin Cities, is just a five-minute drive away and features 108 stores (1.1 million square feet of retail space). Downtown Minneapolis is less than ten miles away via direct route on Interstate 394, which is less than a block from The Cliffs’ entrance.
The Cliffs of Minnetonka is a value-add investment opportunity and is well positioned for accelerated rent growth through interior upgrades in the apartment units. The property is 96% occupied and over $1.5MM in capital improvements have been made to the common areas within the last year. Offered free and clear of existing debt, this property is a high yield investment opportunity when coupled with today’s attractive financing options. The Cliffs of Minnetonka is a rare jewel of a property that was built to be a showstopper and is located in a high barrier of entry market with easy access to top employment sectors, shopping, and freeways.
456
$ 73,500,000
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.
361
$ 29,225,000
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.
175
load more listings


Michel Commercial Real Estate was founded by Steve Michel in 1987 and is focused on selling multifamily housing. The firm has sold over $2,000,000,000 in apartment sales and is known for extensive regional & national marketing, strong relationships, and negotiation expertise. Recognized as a top dealmaker in the Midwest, Michel Commercial Real Estate represents both private and institutional investors and 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

Stacie Mugazia
Executive Assistant
Stacie joined Michel Commercial Real Estate in 2022 after 15 years as a paralegal. She is ...

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 in 1991 and focuses solely on selling multifami ...

Phil Reesnes
Vice President
Phil joined Michel Commercial Real Estate in 2002. Specializing in multifamily housing, Ph ...

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 ...
