Roers Companies completed the sale of Axle Apartments on September 17, 2025. This 262-unit community in Fridley, Minnesota, exemplifies the company’s strength in development, marketing, leasing, and property management.

Axle holds a special place in Roers Cos. history as the company’s first workforce housing community. It was designed to meet the needs of middle-income residents by offering rents around 80% of area median income (AMI).

Axle demonstrated that there’s tremendous demand for thoughtfully designed, attainable housing options in growing suburban markets. The property was purchased by an institutional buyer affiliated with a nationally recognized financial services firm.

Leasing Success and Design Appeal

The property opened in April 2022 at a stunning 95% leased, the fastest lease-up in company history. This demand reflected the strength of Axle’s design, location, and value proposition. Located just north of the Twin Cities with convenient access to major employers and transit, Axle offers modern amenities at an attainable price point. This combination resonated strongly with residents.

The four-story community features studio, one-, two-, and three-bedroom apartments with high-end finishes, in-home washers and dryers, and modern kitchens. Amenities include a clubroom, fitness center, outdoor pool, rooftop deck, dog park, and underground parking — all designed to foster connection and community.

What’s Next

The sale of Axle Apartments reflects Roers Cos.’s ongoing strategy of developing, stabilizing, and selectively selling properties to fuel future growth. The company continues to expand its portfolio of workforce, market-rate, and active 55+ housing communities across the nation.

“Successful projects like Axle enable us to reinvest in new developments that serve both residents and investors,” Kent Roers shared. “We’re proud of what this property represents — and even more excited for what’s ahead.”