Kestrel Village
Prior Lake, MN
A 48-unit apartment community located in Prior Lake, Minnesota. The property, which was constructed in 1995, offers tenants spacious 2- and 3-bedroom floor plans.
1995
48
983 SF
Investment Highlights
16650 BRUNSWICK AVE SE
PRIOR LAKE, MN 55372
Kestrel Village is a 48-unit apartment community located in Prior Lake, Minnesota. The property, which was constructed in 1995, offers tenants spacious 2- and 3-bedroom floor plans.
Kestrel Village was purchased for roughly $6.3M at 94% occupancy. The property was previously restricted as affordable housing. Midloch plans to perform unit renovations and implement RUBS as part of the value-add plan.
The property is located in a premier suburb 30 minutes south of Minneapolis. The submarket has seen limited new multifamily construction. Due to the strong demand and occupancy, rents have grown by 2.4% over the past 12 months.
CONTACT
Tim Donovan
414.795.5849
tim@midloch.com
CONTACT
Gabriella Garcia
312.625.7162
gabriella@midloch.com