Northmarq’s Minneapolis Multifamily Investment Sales team completes sale of Boulder Ridge Townhomes in Apple Valley

APPLE VALLEY, Minn. (March 12, 2025) — Northmarq’s Minneapolis Multifamily Investment Sales team led by Jeff Budish, Ted Bickel and Dylan Steman successfully completed the sale of Boulder Ridge, a 112-unit multifamily housing community located at 12685 Germane Ave. in Apple Valley, Minnesota.

Northmarq represented the seller, CommonBond Communities. The buyer was Black Swan Real Estate.

“There was a lot of interest in this desirable property and location,” Budish said. “The property is a unique mix of both townhomes and apartments with in-building garages. The buyer assumed the existing HUD debt, which was a lengthy process.”

Built in 2001, Boulder Ridge features one-, two- and three-bedroom floor plans with expansive kitchen, in-unit washers and dryers, and condo-like amenities like soaking tubs, walk-in closets, private entrances, patios and balconies.

Boulder Ridge is located in a prime location just off of State Hwy 77/Cedar Avenue with nearby access to Interstate 35E. It is two miles from the Minnesota Zoo, three miles from downtown Apple Valley, seven miles from the Mall of America and 17 miles from downtown Minneapolis.