Company News

Northlake Lofts Sold for $60 Million

Roers Companies Closes on Sale of Newly Built Apartments in Lakeville LAKEVILLE, MINN. — July 28, 2022 — Roers Companies sold its 208-unit Lakeville apartment community today. Belgarde purchased Northlake Lofts for $60 million — just three months after the first residents moved into the newly constructed building at 18400 Orchard Trail. This is the second property Roers Cos. has...

Roers Cos. Closes on Its Second Texas Acquisition

240-Unit Community Joins Roers Cos. Growing Texas Footprint SAN ANTONIO, TEXAS — July 28, 2022 — Today, Roers Companies acquired Rosemont at University Park through a partnership with San Antonio Housing Authority. The 240-unit affordable housing community was built in 2006 and includes eight residential buildings plus a central clubhouse and amenity area. A renovation is planned for early 2023...

Core Living Becomes Roers Cos.

Roers Cos.' property management division, Core Living, has joined together with our commercial real estate development group under one name. Core Living has been a subsidiary of Roers Cos. since the company was founded in 2013, with shared ownership, an integrated leadership team, a single corporate office, and staff of both companies working side by side on new developments as...

Roers Companies Sells Woodbury Apartments for $65.16 Million

Roers Companies sold its 255-unit Beyond Apartments in Woodbury on Friday, March 11 to Milwaukee-based MLG for $65.16 million — just six months after the first residents moved into the newly constructed building at 455 Karen Dr. The timing of the sale is earlier than typical for multifamily sales as the property is still in lease-up. In other words, Beyond...

Woodbury Magazine: Beyond Apartments Redefines Modern Living Standards

Beyond Apartments Redefine Modern Living Standards The following excerpt appeared in an article by Ava Diaz in the Woodbury Magazine Continuing to redefine apartment living for Woodbury residents is the new two-building complex, Beyond Apartments by Core Living. Beyond fuses a boutique aesthetic with the bustle of suburban conveniences to create a comfortable modern lifestyle. As a luxury apartment, Beyond features...

Finance & Commerce Covers Havenwood Minnesota Portfolio Sale

Roers Cos. has sold a portfolio of five local senior housing communities to an out-of-state investor for $160 million, a price that Roers Cos. and its broker believe to be the biggest lump-sum haul ever for that product type in Minnesota. The Havenwood Senior Living properties in Minnetonka, Maple Grove, Burnsville, Richfield and Buffalo have a combined 567 independent living...

Five-Property Havenwood Senior Living Portfolio Sold for $160 Million

Roers Companies sold its Twin Cities area Havenwood Senior Living properties to Lone Star Funds today for $160 million, which appears to be the highest price to-date for a senior living portfolio transaction in the metro area. The sale includes five properties in Minnetonka, Maple Grove, Burnsville, Richfield and Buffalo, totaling more than 550 independent and assisted living apartments, plus...

Duluth News Station Covers Phase 2 of Cove Apartments

Nestled near the shores of Lake Superior in the heart of Duluth, Phase 2 of Cove Apartments is looking to open this Fall.  Phase 1 of Cove Apartments saw almost all of its 48 units filled before doors even opened back in late 2020. “The goal with these historic rehabs is to try to be able to deliver a product...

Affordable Housing Expansion in Texas

Roers Companies is expanding into the Lone Star State with a 300-unit affordable housing complex in Hutto — with more projects potentially on the way for Central and North Texas. The three-story complex, tentatively named The Narrows Apartments, will be federally subsidized as Section 42 housing. The program allows developers to sell tax credits in return for keeping rents restricted...

Active 55+ Concept Expands

Roers Companies continue to break into the active 55+ market with Risor properties now in development in Apple Valley, Bloomington, Maple Grove, and St. Louis Park. "The Risor brand aims to fill the so-called “missing middle” of senior housing, appealing to active older tenants who aren’t quite ready for true senior housing but are eager to downsize," said Andy Bollig,...

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