Colliers recently facilitated the sale of Quarry Commons Apartments, a two-building, 102-unit low-rise multifamily property located at 1965 Quarry Rd. in St. Cloud, Minnesota. The property was sold to Weidner Investment Services, Inc., based in Washington for $10.75 million.
The transaction was handled by a team from Colliers consisting of Dan Linnell, Adam Haydon, Mox Gunderson and Devon Dvorak on behalf of Timberland Properties. According to Linnell: “The attractive financing options and competitive bidding process made this opportunity highly desirable.” He also noted that Weidner’s existing properties in the area made Quarry Commons a seamless addition to their portfolio.
Built between 1996 and 2003, Quarry Commons offers various amenities such as BBQ/picnic areas and controlled access with attached garages for its residents’ convenience. Located on St.Cloud’s west side just an hour away from downtown Minneapolis,the community had an impressive occupancy rate of over 94% at the time of sale.
