Beyond Brings 98% Return to Investors

Located just outside of St. Paul, Minnesota, Woodbury proved to be a stellar location for the 255-unit community, Beyond Apartments. Roers Companies’ development team sought out this location for many reasons, one of which was the city’s growth and focus on new developments. Roers Cos. was able to capitalize on this momentum and growth. This two-building (four- and five-story) property is situated minutes from dozens of shopping and dining locations with excellent highway access for easy commuting.

Similar to the success Roers Cos. saw with Maven Apartments in Burnsville, Beyond was a trailblazer for development in this area, yielding extremely strong pre-leasing throughout 2021. Woodbury boasted a strong and stable economy at the time of Beyond’s development, with a low unemployment rate and a diverse range of businesses. This provided a solid foundation for Roers Cos. to develop and ensure access to a skilled workforce. Woodbury had steady population growth, which meant an increasing demand for housing. 

Roers Cos. sold Beyond Apartments to Milwaukee-based MLG in March of 2022, just six months after the first residents moved in. This project sold for $65.16 million, which comes to $255,522 per unit. This sale was much earlier than typical multifamily sales; typically buyers wait to see the property stabilize and operate successfully. However, Beyond’s prime suburban location and impressive leasing velocity attracted the buyer to pursue the property during its initial lease-up.

The success of the build and sale of Beyond Apartments  led to an average internal rate of return (IRR) of 54.9% and a 98% return on investment for the individuals who invested in this project. Roers Cos. typically prefers a longer hold on projects, but the sale of Beyond Apartments was too good to pass up for the company and its investors.

Project Completion: September 2021

% Leased at Opening: 53% 

Sale Date: March 2022

% Leased at Sale: 81%

% Occupied at Sale: 76%

Project Cost: $48M

Sale Amount: $65.16M

Sale Price Per Unit:  $255,521

Thanks to the close internal alignment between our marketing, leasing, property management, and asset management teams, our Beyond Apartments project in Woodbury, Minnesota  is one of the firm’s most successful projects to date. Beyond is a prime example of our approach and timing yielding excellent results for investors. If you have questions about what’s happening in the market or current investment opportunities with Roers Cos., please contact our investor relations team.

Disclaimer:
NO OFFER OF SECURITIES; DISCLOSURE OF INTERESTS: Under no circumstances should any material or information contained herein be used or considered as an offer to sell or a solicitation of any offer to buy an interest in any investment. Any such offer or solicitation will be made only by means of a confidential offering memorandum relating to the particular investment. Access to information about investments with projects undertaken by Roers Companies LLC, Roers Companies Project Holdings LLC, or any of their respective affiliates is limited to investors who qualify as accredited investors within the meaning of the Securities Act of 1933, as amended. Investment outcomes vary. Past success does not guarantee future results.