Firm pays $7.25 million for Rochester student apartment complex
Mar. 29—ROCHESTER — A Bloomington, Minnesota, real estate management firm recently paid $7.25 million to add a longtime Rochester student housing complex to its portfolio.
Nath Cos. purchased The Quarters at 826 21st Ave SE. It located adjacent to the Rochester Community and Technical College campus.
The 63-unit apartment complex is located on 6.6 acres. The Quarters was built in 1986 and renovated in 2015. The unit mix consists of three two-bedroom / two-bathroom units and 60 four-bedroom / two-bathroom units.
The Mankato-based Tailwind Group sold the property. Tailwind, which owns and manages a portfolio of commercial properties,
purchased the complex for $2.2 million in 2013
. The property was previously known as Evanston Heights.
Marcus & Millichap, a Twin Cities commercial real estate brokerage, represented Tailwind and lined up Nath as the buyer.
Nath also operates Rivers Edge Apartments, Northgate Apartments, The 105, The Francis, Bandel Homes and Innsbruck Townhomes in Rochester.
Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in "Heard on the Street." Send tips to
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