Med City housing portfolio sells for $59 million

Monarch Investment and Management Group bought it.
That’s accurate. However, it was just the start. The state later posted online the rest of the IRET/Monarch sales, which totaled $59.4 million for six properties with 585 units.
Here are the six transactions.
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Heritage Manor Apartments with 182 units at 2409 North US 52 was purchased by Monarch for $14.12 million. Monarch was already managing the property for Centerspace.
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Crystal Bay Townhomes with 72 units at 240 Crystal Bay Court SW was purchased by Monarch for $13.6 million, as I previously reported.
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Olympik Village at 402 31st St NE with 140 units at 31st St NE was purchased by Monarch for $10.2 million. Monarch was already managing the property for Centerspace.

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