Colorado-based Monarch Investment and Management Group paid $49.275 million for a Rochester residential portfolio in late May, according to electronic certificates of real estate value recently made public. Centerspace LP, which listed a Minneapolis address, sold the five properties containing a total of 445 residential units located across Rochester. The sales were financed with new mortgages, according to the eCRVs. Monarch bought the 72-unit Crystal Bay Townhomes for $13.65 million, which works out to approximately $189,583 per unit. It has two- and three-bedroom townhomes located along Crystal Bay Court SW., according to Olmsted County property records. The townhome complex is directly east of County Road 8 Southwest and south of Salem Road Southwest. The John Withers Sports Complex and Lake George are neighbors to the east, and the Apache Mall is more than a mile to the northeast. The 115-unit Winchester Apartments, at 3908 19th Ave. NW, was purchased for $9.5 million. This