News

Ranked in Top 25 Largest Apartment Developers in the U.S.

Roers Companies earned national recognition today on the National Multifamily Housing Council’s (NMHC) 2023 NMHC 50, the annual ranking of the nation’s largest apartment developers. Roers Cos. secured the 25th spot among the largest apartment developers in the country, with 2,675 units breaking ground during 2022. Earlier this year, the company landed in the No. 2 spot among commercial real...

News Release: Roers Cos. Extends Investment Offering to New Market

ROERS COMPANIES EXTENDS ITS EXCLUSIVE INVESTMENT OFFERINGS TO INDIVIDUALS WORKING WITH REGISTERED INVESTMENT ADVISORS & FAMILY OFFICES With $2 Billion in Its Diversified 11-Year-Old Portfolio, Multifamily Developer Plans Next Phase of Growth Across the U.S. with Expanded Investment Approach TWIN CITIES, MINN. — March 13, 2023 — In just over 10 years, Roers Companies grew a multi-family real estate development...

Business Journal Names Roers Cos. to Top Developers List

The annual list of the top developers in the Minneapolis/St. Paul metro area compiled by the Business Journal was released this week. For the fourth year in a row, Roers Cos. landed in the top five, coming in at number two with more than 3.9 million sq. ft. of local development since 2020. We extend our congratulations and our thanks to...

Roers Cos. Winter Conference Highlights

The Roers Cos. team came together from offices and sites across the country last week for our semi-annual conference in Plymouth, Minn. This year's theme was Rise Above, and attendees heard from a number of internal leaders about how we can work together to execute on our lofty goals in 2023. The team enjoyed two evening events — games and...

Roers Cos. Kicks Off First Project With RGC

Roers Companies held a groundbreaking ceremony on Tuesday, January 24 for The Espen Residences in Oakdale, Minnesota which will mark the company’s first project with our new in-house general contracting group, RGC. Roers General Contracting (RGC), a division of Roers Companies, was created in response to a growing need to build high-quality projects while remaining on schedule and on budget....

Announcing Roers General Contracting (RGC)

Roers Companies has announced we will be adding general contracting to our extensive list of specialties that currently consists of development, investment, construction, and property management. Roers General Contracting (RGC), a division of Roers Companies, was created in response to a growing need to build high-quality projects while remaining on schedule and on budget. RGC provides several services that extend...

Twin Cities Business 2022 Notable CFOs

Congratulations to our Chief Financial Officer Tom Cronin who was selected as one of the 2022 Notable CFOs by Twin Cities Business! The magazine recently announced the honorees in a posting. Read more here. Tom has had a significant impact in a relatively short time at Roers Companies. He joined the company in March of 2021 and has since overseen...

Finance & Commerce’s Rising Young Professionals for 2022

Congratulations to Developer Andy Bollig who was selected as one of Finance & Commerce’s Rising Young Professionals for 2022! In his three years at Roers Companies, he has contributed to almost $400 million in development, including more than 1,300 apartments and townhomes in Minnesota and Utah. Andy will be profiled among this year's honorees in Finance & Commerce's Rising Young...

Celebrating the 2022 MADACS Awards Nominees

The Roers Companies team is incredibly proud of our nominees and winners at the Minnesota Multi Housing Association (MHA) MADACS Awards. Nominees are standouts in the Minnesota multifamily housing industry, and we had three finalists up for awards. Congratulations to Samantha Fusco for winning the lease-up leasing consultant award and Jessica Correll for winning in the multi-site community manager category...

Repurposing a 450,000-square-foot Vacant Office in Plymouth

The excerpt below appeared in the Minneapolis Star Tribune article “Why a 450,000-square-foot office building in Plymouth is about to meet the wrecking ball” on September 3, 2022 by Jim Buchta. "With more than 1,000 empty parking spaces and do-not-enter signs taped to several locked doors, Prudential's 75-acre office campus in Plymouth feels nearly abandoned. It's been that way nearly...

San Antonio Apartments Purchased With Renovations Planned

The excerpt below appeared in the San Antonio Business Journal article “Midwest developer buys San Antonio apartments with renovations planned” on September 2, 2022 by Ramzi Abou Ghalioum. "Roers Companies recently bought properties for renovation in San Antonio and Houston, and is getting ready to build a new property in Austin. The San Antonio property is Rosemont at University Park, a 240-unit apartment...

75-Acre Site Purchased for Mixed-Use Development

Scannell Properties and Roers Companies have purchased an approximately 75-acre infill site at the corner of Interstate 494 and Bass Lake Road in Plymouth, Minnesota, and will redevelop the site in a joint venture. The current site includes a 500,000 square-foot office building that was constructed in the 1980s. Scannell and Roers Cos. will demolish that building and redevelop the...

Roers Companies Closes on Sale of Newly Built Apartments in Lakeville

Roers Companies sold its 208-unit Lakeville apartment community today. Belgarde purchased Northlake Lofts for $60 million. This came 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 sold in 2022 prior to filling all its apartments and reaching what the industry considers stable occupancy...

Roers Cos. Closes on Its Second Texas Acquisition

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 to upgrade the clubhouse and site amenities, unit interiors, and more. This is Roers Cos. second...

Roers Companies Celebrates 10-Year Anniversary

Roers Companies is celebrating 10 years of business in 2022. We are grateful for the people who have worked alongside us throughout the past decade, and we can't wait to see what we can achieve together by year 20! Check out the video below to hear from our founders. Hear how Roers Companies was started and what's next for our...

Announcing the 2022 RoCo Awards Winners

We are thrilled to announce the 2022 RoCo Awards winners! Roers Companies hosted our second-annual RoCo Awards on Thursday, July 14. We enjoyed an evening with our teams and loved ones recognizing the individuals and properties that were voted by their peers as best-in-class. Please join us in congratulating this year's winners! Customer Service Award: Confluence on 3rd Apartments Maintenance Professional...

Jamie Luehrs Honored with Patriot Award

Employer Support of the Guard and Reserve (ESGR) presents the Patriot Award each year to an individual supervisor for support provided directly to the nominating Service member. The award reflects the efforts made to support citizen warriors through a wide-range of measures including flexible schedules, time off prior to and after deployment, caring for families, and granting leaves of absence...

Roers Cos. Celebrates Finalists at Minnesota Real Estate Journal Awards

Congratulations to our finalists for the 2022 Minnesota Real Estate Journal Awards — Jeff Koch, Erik McLaughlin, CPA, Allison Fischer, Beyond Apartments, and Roers Cos. were honored among the top people, properties, and companies in Minnesota commercial real estate. Our team is incredibly proud to celebrate Allison Fischer as the WINNER for Property Manager of the Year! Allison consistently exemplifies...

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 Companies 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...

Business Journal Names Roers Cos. to Top Developers List

The Minneapolis/St. Paul Business journal relased their list of the 2022 Top Developers in the  metro area  today. For the third year in a row, Roers Cos. landed in the top five, coming in at number four with more than 3.6 million sq. ft. of local development since 2019. We extend our congratulations and our thanks to all of our...

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...

Shane LaFave Honored as a 2021 POWER 30 Developer

Finance & Commerce announced their POWER 30 Developers, a list of "leaders and movers and shakers who are key players in Minnesota's development community." The list was built by interviewing respected members of the community and consulting the archives of Finance & Commerce to find people whose achievements and influence are significant in Minnesota’s real estate development field. Roers Companies celebrates our...

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,...

Roers Cos. Eyes Salt Lake City Expansion

Roers Cos. plans to add 397 housing units in three, six-story apartment buildings in Salt Lake City’s North Temple transit corridor. The unnamed apartment project would provide a mix of one-, two- and three-bedroom homes and continue filling a queue of ongoing and upcoming projects of all sizes along the transit corridor on the capital’s west side. Read the full...

First Residents Move in to Roers Cos. Largest Project Yet

Beyond Apartments in Woodbury is Roers Cos.’ largest project to-date with 255 apartments, and the first phase of the building opened to residents on September 18. The second phase will open later this fall. This two-building (four- and five-story) project is within Woodbury’s City Place district, which is a mixed-use, pedestrian-friendly village with shops, grocery, stores, and entertainment. There is...

Red44 Sold for Record Price in Rochester

Red44, a 159-unit apartment complex in Rochester, has sold to Regency for $34 million. JLL marketed the property on behalf of Roers Cos. Investments, LLC & Reuter Walton Development. Built in 2017, Red44 was developed using a private-funding model whereby high-net-worth individuals from the region invested in the project, so proceeds from the sale will remain in the area. Red44...

Wisconsin’s Largest Privately Owned Affordable Housing Breaks Ground

Roers Cos. and our project partners broke ground on Community Within the Corridor (CWC). Scott Crawford, Inc. and Roers Cos. are developing this $66 million project on 32nd and Center. The CWC team consists of Lead Developers Que El-Amin and Roers Cos., Program Manager Mikal Wesley, Construction Manager Tia Cannon and Governmental Relations Rayhino Boynes with design by Continuum Architects...

Sixth Senior Living Community Opens in Maple Grove

Havenwood of Maple Grove, a new senior living community located at the intersection of Bass Lake Road and County Road 101, opened its doors to the first residents today. The $33 million, 200,000 sq. ft. community is the sixth in the portfolio developed and owned by Minnetonka-based Roers Cos. This is the second Havenwood Senior Living location to open since...

Roers Companies to Break Ground on First Active 55+ Development

Roers Companies will break ground this week on the first property in a new collection of age-restricted apartments and townhomes for the active 55+ market, called Risor. The $44 million, 277,000 sq. ft. community will welcome its first residents in the fall of 2022. The company closed on the 4.8-acre property purchase last week. Concurrently, additional active 55+ communities within...

Havenwood of Minnetonka Ranks Among Top 15% of Senior Living Communities

Havenwood of Minnetonka, one of Roers Cos.' six Havenwood Senior Living locations, was recently recognized in nine award categories from Pinnacle Quality Insight, a customer satisfaction measurement firm. Pinnacle surveyed residents, patients, and families over the past 12 months to identify Havenwood of Minnetonka as a best-in-class service provider for seniors. Earning the 2021 Customer Experience Awards from Pinnacle means...

Venue Apartments Named to 2020 Elite 1% ORA Power Ranking List

Congratulations to our staff at Venue Apartments in Chanhassen, Minn. for earning a place on the Elite 1% ORA Power Ranking for 2020! To compile this annual list, J Turner Research investigates the online reputations of more than 122,000 multi-family properties and identifies the top 1%. We're incredibly proud of our elite team at Venue for reaching position No. 381. Learn...

Roers Cos. Ranks No. 3 Among Top Developers in Twin Cities

Roers Companies climbed from No. 5 to No. 3 on the Minneapolis/St. Paul Business Journal's annual list of the most active commercial real estate developers in the Twin Cities. The publication ranked firms by square feet developed in the metro area between 2018–20. Since 2018, Roers Cos. has opened four Havenwood Senior Living communities, Venue Apartments and the adjoining ALDI...

Star Tribune: As 2020 Winds Down, Roers Cos. is Ramping Up

Roers Cos. Sees Opportunities in Changing Rental Housing Market The following excerpt appeared in a 12/18/2020 article by Jim Buchta in the Minneapolis Star Tribune As 2020 winds down, Roers Cos. is ramping up. The Twin Cities-based apartment developer is responding to changing market conditions with a national expansion that has nearly tripled a development staff that will be tasked...

Roers Triples Down on Real Estate Development

Media Release Roers Companies Triples Down on Real Estate Development MINNETONKA, MINN. — November 30, 2020 — Roers Cos. is declaring its clear intent to thwart the economic chaos of 2020 and seize new opportunities that invest in long-term growth for the firm. The multi-family real estate developer, already ranked as a top-five Twin Cities developer, typically kicks off six...

Burnsville’s Maven Apartments Sells for $29 Million

Roers Companies closed on their $29 million sale of Maven Apartments today. The 137-unit community was the first new apartment development in Burnsville in 14 years, and its novelty proved successful in attracting renters. Its lease-up timeline was just four months. The community achieved stable occupancy with 95% of the units rented 11 months ahead of the firm’s schedule. When...

Northlake Lofts Breaks Ground in Lakeville

Below is an excerpt from an article, "Roers building Lakeville apartments," that appeared in Finance & Commerce on Monday, October 12, 2020. Minnetonka-based Roers Cos. has broken ground on a $41.5 million apartment building in Lakeville, the development company’s first project in the south metro suburb. The Northlake Lofts project, scheduled for completion in spring 2022, will bring 208 market-rate apartments to...

Roers Companies and Partners Sell Spectrum Apartments & Townhomes

Roers Companies and Reuter Walton Development closed yesterday on their $26 million off-market sale of 118-unit Spectrum Apartments & Townhomes to a private investor. The resort-style community located near the University of Minnesota welcomed its first residents in August of 2017. At the time, was the only student apartment community with an outdoor pool when it opened. PROPERTY HIGHLIGHTS In...

Roers’ Amy Johnson Honored as 2020 Rising Young Professional

Finance & Commerce held a virtual celebration on Thursday evening honoring the recipients of their 2020 Rising Young Professionals awards. The 30 honorees were selected by an independent panel for distinguishing themselves in their industries and communities. Roers Companies celebrates our own Director of Marketing & Leasing Amy Johnson among these impressive young professionals. Amy manages a marketing and leasing...

Urban Milwaukee: Biggest Ever Affordable Housing Project Advances

Below is an excerpt from the June 30, 2020 Urban Milwaukee article by Jeramey Jannene. The biggest proposed affordable housing development in the city took a major step forward Tuesday morning. The Common Council’s Zoning, Neighborhoods & Development Committee unanimously endorsed a $3.15 million financing package for the $59 million, 197-unit The Community Within the Corridor development. Developer Que El-Amin, through...

Milwaukee Project Unanimously Endorsed by City’s Development Committee

Below is an excerpt from the June 30, 2020 Milwaukee Journal Sentinel article "City cash totaling $3.1 million endorsed for a $59 million mixed-use development on Milwaukee north side" by Tom Daykin The planned transformation of a large, historic Milwaukee central city industrial site into affordable apartments, as well as commercial and community space, would get city financing help under...

Havenwood of Onalaska Hosts Virtual Open House

Havenwood Senior Living hosted a virtual open house via Zoom on June 30 for those interested in a closer look at the new community in Onalaska while COVID-19 visitor restrictions remain in place. News8000 highlighted the unique event for the La Crosse and Onalaska community. Below is an excerpt from the online article. A new senior living center is opening...

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