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8/06/25
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North Dakota-based Edgewood REIT has acquired three multifamily properties totaling 126 units in Fargo, North Dakota. The properties in the transaction were the Southridge Townhomes, Montgomery Townhomes and Valley View Townhomes
Southridge Townhomes, located at 6470 21st St, consists of 37 units over 145.6k sf. Built in 2020, the property features three-bedroom units with modern designs and high occupancy rates of 97%.
3260 9th W, Fargo, ND (definitely not San Diego...) |
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Located at 3260 9th St W, Montgomery Townhomes was built in 2014 and offer 67 units across 162.5k sf of space. The townhomes are highly sought after for their spacious layouts and proximity to local amenities.
Situated at 4950 36th Ave, Valley View Townhomes includes 22 units and was constructed in 2024. The 67.9k sf property boasts a 100% occupancy rate.
Cushman & Wakefield’s Kevin Phelan represented the seller in the transactions.
"These transactions stand out given the limited number of multifamily sales currently taking place in the region," said Phelan. "These properties are particularly noteworthy due to their strategic locations within thriving areas and their consistently high occupancy rates. Combined, these factors position them as highly attractive investment opportunities in a market that remains both stable and poised for continued growth."
Fargo, the largest city in North Dakota, is experiencing significant growth due to its diverse economy and affordable lifestyle. The city is a hub for agriculture, higher education and business, with major employers like Microsoft, North Dakota State University and Sanford Health.
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