The Sinclair — Ramsey, MN

The project sits on land owned by the City of Ramsey, which is being sold to Roers Cos. at a highly favorable price, resulting in an exceptionally low land basis of approximately $7,068 per unit. The site comes fully zoned for multifamily, reflecting strong city support and eliminating entitlement risk. A prior developer completed the approval process but did not move forward; the city is eager to see the project successfully executed. This alignment creates a rare opportunity to deliver new construction housing with reduced risk and strong
long-term potential.

The project includes approximately 5,000 square feet of retail space. Roers Cos. is conservatively assuming nearly 50% of market rental rate, minimizing reliance on retail income in the base case. This approach provides meaningful upside potential should a strong credit tenant be secured for the full space at market or above-proforma rents.

Situated in Anoka County, the project benefits from a favorable tax environment compared to other Twin Cities submarkets. Just as important, this is not an unproven location — multifamily housing within The COR at Ramsey has already demonstrated successful lease-up, with nearby communities sustaining high occupancy and continued rent growth. Roers Cos. will deliver as the newest and most modern multifamily product in the district; this project is expected to be the final new apartment community introduced to the area — creating a lasting competitive advantage as the last, best-in-class housing option in an established and growing suburban corridor.

The project will feature townhome-style residences along the north and west sides of the building. These first-floor units include individual front doors that open directly onto the street, creating a true walk-up living experience. This design offers residents an added sense of privacy, convenience, and connection to the neighborhood.