Twin Cities Rental Market is booming: Plymouth Park Place Apts Sold for $54.7million


This one is a big enough sale to say:  WOW.

Park Place Apartments Plymouth, MN (link to Oodle)

Plymouth Park Place Apartments just sold to a South Carolina company for $54.7million.  The extremely low vacancy rates on rentals right now and the low property prices make it a good time to invest, especially in Single Family rentals.

A friend of mine, Aaron Clarey who is an Economist extraordinaire, writer (Behind to Housing Crash) and blogger – programmed a nice Excel worksheet for me to analyze investment property returns.  You can download it on the right sidebar or here:

download

 Download and use to analyze potential returns on buying rental properties.

 This Story is from Minneapolis/St Paul Business Journal

The 500-unit Park Place Apartments in Plymouth has been sold for $54.7 million to a South Carolina company.

The four-building complex was bought byGreystar Real Estate Partners    of Charleston, S.C., Finance & Commercereported. The previous owner was Dallas-based Park Place Portfolio Inc., an entity connected to Atlanta-based Invesco    .

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