Investing in Small-Town Charm Less than 30 Minutes Away from the Twin Cities

Located less than 30 minutes east of the Twin Cities, sits the perfect blend of small-town charm and modern conveniences; and that’s where you’ll find our newest project, The Dorian. Located in the high-growth suburb of Lake Elmo, Minnesota, this 190-unit, market-rate apartment community with more than 12,000 square feet of retail space is now open for investment. It is a four-story development featuring a modern mix of studio, alcove, one-, two-, and three-bedroom units to meet the area’s growing demand.     

Project Highlights

Location
Lake Elmo offers a suburban lifestyle with many up-and-coming retail outlets and restaurants within walking distance. Future residents will also have easy access to major highways connecting them to employment, entertainment, and cultural opportunities in Hudson and the Twin Cities area.

Increasing Labor Force
The surrounding area is experiencing rapid labor force growth fueled by significant industrial development. Nearby:

– A logistics park in Cottage Grove is under construction, bringing over 3,000 new jobs.

– Fortune 500 company, 3M attracts a steady stream of professionals, corporate relocations, and business partners, contributing to a strong local economy and increased housing demand.

– The 3M headquarters is adding over 700 positions in the next year.

These projects represent a combined city investment of more than $400 million, underscoring a bright economic future for the surrounding areas.

Market Comparables and Outlook
The market is experiencing a nationwide slowdown of new apartment construction as a result of rising interest rates and tighter lending standards. Despite market conditions, demand for more multifamily housing remains strong in key suburban markets. A Star Tribune article published last year highlights a 55% drop in apartment permits issued since April 2023. This means that when Roers Companies’ projects open in 2025 and 2026, there will be less competition, and the absorption rate will be high.

Looking at the comparable apartments in the area — Aspire at CityPlace, Beyond, and Springs at Lake Elmo — all opened in 2021 and are operating at 95% occupancy with fewer apartment amenities than will be offered at The Dorian. The city of  Lake Elmo is experiencing an unmet demand for 1,684 new apartment units over the next five years, with 25% of that demand capturable by The Dorian. Robust population and job growth are driving renter demand in this high-opportunity suburb.

Apartment Amenities

The Dorian provides an enhanced living experience for all ages and lifestyles. With the work-from-home culture at the forefront, The Dorian will offer co-working suites, meeting rooms, focus rooms, and a coffee bar. For active lifestylists, we have a fitness center, yoga studio, and ballet barre, outdoor heated pool, and secured indoor bike storage. For social neighbors and hosts, we have space to bring community together in a club room as well as grill stations to elevate gatherings and dinner parties. In addition to all these amenities, The Dorian also offers an indoor pet wash and nearby daycare to suit growing families.

A Beautiful Day in the Neighborhood: What’s in the Area?

Nestled just outside the urban core, Lake Elmo offers a unique blend of natural beauty, thriving local businesses, and a warm, welcoming community. Its scenic landscapes and vibrant amenities make it an ideal destination for both indoor and outdoor enthusiasts seeking a peaceful retreat with convenient access to the Twin Cities.

Highlights of the Neighborhood Include:

Convenient Shopping: Close access to popular grocers — Trader Joe’s, Whole Foods, Costco, Target, Sam’s Club, and Walmart — and nearby shopping mall, Tamarack Village.

Diverse Wining and Dining: Award-winning restaurants like Hazelwood Food & Drink, Portillos, Crave, and Ray J’s American Grill are all nearby as well as quick and easy options such as Culver’s, Noodles & Co., Caribou, Nautical Bowls, among others.

Recreation: This project offers a wealth of year-round outdoor activities such as fishing, boating, and nature-based recreations with numerous parks and trails nearby. Some favorites include Lake Elmo Park Reserve, Battle Creek Lake, and Oak Marsh Golf Course.

A Proven Track Record                                 

Roers Cos. has established a strong presence in the Northeast Twin Cities suburbs with four projects in the Woodbury and Lake Elmo area, a reflection of our deep market insight and commitment to strategic growth. One of Roers Cos.’ most successful developments — Beyond Apartments, a 255-unit community in Woodbury — was sold just six months after lease-up for $65.16 million ($255,522 per unit) at a 4.79% cap rate, delivering a 98% return over three years to our investors. This performance highlights our proven ability to identify high-potential locations, execute efficiently, and generate strong sales outcomes for investors.

We are incredibly excited about this investment opportunity and the community we’re shaping. Please contact your investor relations professional or contact the investor relations team here.

Sources: Parade of Homes: Your Guide to Lake Elmo

Date Published 8/4/2025

NO OFFER OF SECURITIES; DISCLOSURE OF INTERESTS:  NO INFORMATION OR MATERIAL CONTAINED HEREIN MAY 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 PRIVATE PLACEMENT 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.  

NO OFFER OF INVESTMENT, LEGAL OR TAX ADVICE. Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion regarding the appropriateness of any investment. Prior to making any investment you should consult with a licensed investment, financial advisor, legal and tax advisor.