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Michel Commercial is pleased to present The Bessemer at Seward Commons — a 128-home, luxury market-rate apartment community in the heart of the Seward neighborhood in Minneapolis, MN. Delivered in December 2021 by award-winning developer Schafer Richardson, this five-story property showcases high-quality construction, modern design, and unmatched connectivity in one of the city’s most thoughtfully planned redevelopments. As the first market-rate* development in the neighborhood in over 40 years—and one of Minneapolis’ earliest Opportunity Zone projects— The Bessemer anchors the Seward Commons master plan with lasting significance. Each home features an open layout with luxury plank flooring, stainless steel appliances, in-unit laundry, and expansive closets. Select units offer private balconies or patios, and heated underground parking is available. Residents enjoy a refined amenity package that includes a fully equipped fitness center, a fireside lounge and welcoming lobby, an outdoor terrace with fire pit and grilling stations, a club room, and a dedicated dog park. This is a lifestyle-driven offering designed to attract and retain quality residents. Offered at well below replacement cost, The Bessemer is a rare opportunity to acquire a luxury Class A asset with meaningful upside. With no new market-rate developments underway in Minneapolis and vacancy down 250 basis points in the submarket over the past 20 months, the property is well-positioned for continued absorption and rent growth. Anchored by durable income, high-quality construction, and a prime transit-oriented location, The Bessemer offers long-term value and compelling performance potential in an increasingly supply-constrained market.
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Michel Commercial and Property Resources Group is pleased to present the Dakota Apartments, a premier 558-unit multifamily investment opportunity across 16 apartment buildings and 1 clubhouse in Williston, ND. This expansive portfolio has maintained strong occupancy and offers investors a significant value-add opportunity through interior and exterior improvements. Featuring a range of spacious layouts, on-site amenities, and ample parking, Dakota Apartments is well-positioned to deliver enhanced living experiences with targeted upgrades. For investors seeking a large-scale opportunity, Dakota Apartments presents a compelling opportunity. With robust rental demand, strong market fundamentals, and the ability to unlock value through renovations, improved management, and strategic capital investments, this offering represents a rare chance to acquire a well-located, high-occupancy asset primed for long-term growth.
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Michel Commercial and Property Resources Group is pleased to present Bakken Heights, a 360-unit multifamily investment opportunity spanning 10 apartment buildings in Williston, ND. Offering strong historical occupancy and solid operational performance, Bakken Heights provides investors with an opportunity to further enhance value through strategic renovations and management improvements. With a variety of unit styles, on-site amenities, and plentiful parking, the property is well-positioned to continue meeting the area’s strong housing demand. For investors targeting large-scale multifamily assets with considerable upside potential, Bakken Heights Apartments offers an excellent opportunity. With durable rental demand, room for modernization, and strong market fundamentals, this property stands as a compelling addition to any investment portfolio focused on growth and stability in an established energy-driven market.
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Michel Commercial is pleased to present 3308 E 38th Street, a 12-apartment home property located in Minneapolis. This well-maintained property has a strong occupancy history in a stable location. Featuring mainly one-bedroom homes with large closet space. With a strong track record of high occupancy and solid in-place income, the 3308 E 38th Street Apartments offers reliable and predictable returns, making it an attractive investment in a prime location.
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Michel Commercial is pleased to present Twin Pines Apartments, a well-maintained, two-building, 46-home community located in the city of West St. Paul, Dakota County. Because the property is in West St. Paul—not St. Paul proper—it is not subject to rent control ordinances. Each unit features in-home laundry and a desirable mix of floorplans. Recent capital improvements include luxury vinyl plank flooring and granite or quartz countertops in select units. The property also offers both surface and garage parking. With strong in-place income, recent upgrades, and limited new development in the West St. Paul submarket, Twin Pines Apartments offers stable cash flow today with upside potential through future rent growth—making it a compelling investment opportunity in a high-visibility, growing area.
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Under Contract
Michel Commercial is proud to present Green Avenue apartment homes, a 23-unit apartment community spanning two adjacent buildings in the heart of Anoka. Built in 1968, the property features a mix of one- and two-bedroom units and has maintained a strong track record of stable occupancy. The Green Avenue apartments is well-maintained with strong occupancy, steady income, and immediate upside. Current rents are below market, presenting a natural opportunity for increases. Additionally, the property is well positioned for a value-add strategy through interior upgrades, following the success of similar renovations in the area. Green Avenue offers both investment stability and growth potential.
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Michel Commercial is pleased to present Lee Estates Apartments, a 24-apartment home property located in North Mankato. This well-maintained property has a strong occupancy history. Featuring a desirable mix of one- and two-bedroom homes. Residents enjoy on-site laundry and the convenience of surface parking and garages available for rent. With a strong track record of high occupancy and solid in-place income, the Lee Estates Apartments offers reliable and predictable returns, making it an attractive investment in a prime location.
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Under Contract
Michel Commercial is pleased to present Jordan Valley Townhomes, a 44 townhome affordable community in Jordan, MN. These well-maintained homes feature spacious layouts, in home laundry, private entries, and attached double garages— offering residents comfort and convenience. Affordability Structure: All 44 townhomes (100%) are designated for residents earning up to 60% of the Area Median Income (AMI) until the Land Use Restriction Agreement (LURA) expires in 2038. Attractive Investment Opportunity: Jordan Valley Townhomes presents a stable investment opportunity with a history of strong occupancy in a high-demand submarket. Additionally, the Low-Income Rental Classification (LIRC) tax rate reduction to 0.25% (effective January 1, 2025) enhances its long-term value, making it a compelling addition to any investment portfolio.
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Under Contract
Michel Commercial is pleased to present Sunrise Court Apartments, a 53-apartment home property located in Cambridge, MN. This property has a strong occupancy history and benefits from recent capital improvements, including a newer boiler. Featuring a desirable mix of studio, one-, and two bedroom homes. Residents enjoy on-site laundry facilities and the convenience of garage and surface parking. This property presents a value-add investment opportunity, strategically positioned to capitalize on rental upside through interior upgrades. The Sunrise Court Apartments is well-maintained and conveniently located in a submarket experiencing strong rent growth. This offering provides investors with a chance to leverage a solid performing property that offers a clear path to NOI growth.
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Under Contract
Michel Commercial is pleased to present Northern Oaks Apartments, a 24 apartment home property located in Cambridge, MN. This property has a strong occupancy history and benefits from recent capital improvements, including a newer roof. Featuring a desirable mix of one-, and two-bedroom homes. Residents enjoy on-site laundry facilities and the convenience of garage and surface parking. This property presents a value-add investment opportunity, strategically positioned to capitalize on rental upside through interior upgrades. The Northern Oaks Apartments is well-maintained and conveniently located in a submarket experiencing strong rent growth. This offering provides investors with a chance to leverage a solid performing property that offers a clear path to NOI growth.
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Michel Commercial is pleased to present the Forest Park I Apartments, a 20 apartment home property located in Forest Lake, MN. This property has a strong occupancy history and benefits from recent capital improvements, including a newer boiler and parking lot enhancements. Featuring a desirable mix of one- and two-bedroom homes. Residents enjoy on-site laundry facilities and the convenience of garage and surface parking. This property presents a value-add investment opportunity, strategically positioned to capitalize on rental upside through interior upgrades. The Forest Park I Apartments is well-maintained and conveniently located in a submarket experiencing strong rent growth. This offering provides investors with a chance to leverage a solid performing property that offers a clear path to NOI growth.
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Michel Commercial presents the Minnehaha Portfolio, a collection of three distinct properties totaling 45 apartment homes. These properties are available for purchase individually, in pairs, or as a complete portfolio, offering flexibility to investors. With prime locations and strong in-place income, this portfolio offers investors a unique chance to capitalize on the current momentum while positioning each property for sustained NOI growth.
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Under Contract
Michel Commercial is pleased to present the North Pointe Townhomes, an 18-townhome, mostly affordable community located in Blaine, MN. These well-maintained townhomes have many recent capital improvements and feature open, spacious layouts, in-home laundry, and attached garages. Affordability Structure The property includes the following components: • Market-Rate: 3 Townhomes • Project Based Vouchers (HAP): 4 Townhomes • HOME HUD (80% AMI): 2 Townhomes • Section 42 LIHTC (60% AMI): 9 Townhomes All affordability designations will remain in effect until the expiration of the Land Use Restriction Agreement (LURA) on March 17, 2033. Prime Location and Lifestyle North Pointe provides easy access to major roadways, offering convenient travel throughout the Twin Cities. The community is close to Blaine’s premier attractions, including: The National Sports Center, TPC Twin Cities golf course, and Bunker Hills Regional Park. Residents benefit from a blend of urban convenience and suburban charm, complemented by excellent schools within the highly regarded Anoka-Hennepin School District, known for its strong academics and extracurricular opportunities. Attractive Investment Opportunity North Pointe Townhomes presents a stable and attractive investment opportunity, boasting a history of strong occupancy and a high-demand location.
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Sold Properties

$ 10,500,000
Michel Commercial is pleased to present the Sunset Ridge Apartments, a 105-home apartment complex located in Fergus Falls, Minnesota. Built in 2015, Sunset Ridge was developed by the highly regarded Kuepers Architects & Builders, and has a desirable mix of one- and two-bedroom homes with open concept living rooms, attractive cabinetry, dishwashers, individual climate control, and detached garages. Community amenities include a fitness room, a community room, an outdoor grilling station, a play area for children, and laundry facilities. Sunset Ridge is located in Fergus Falls, a community known for its scenic beauty and green spaces. Sunset Ridge is just five minutes from the nearest Walmart and less than four miles from the city’s reputable elementary, middle, and high schools. The property is less than ten minutes from central Fergus Falls, including shopping, dining, the library, an award-winning hospital, and several riverfront parks, and less than fifteen minutes from Pebble Beach and the northern terminus of the 55-mile Central Lakes Trail. Residents enjoy easy access to Interstate 94 and Minnesota State Highway 210. Sunset Ridge Apartments is a turn-key investment opportunity in a community with stable rental demand. The property has a high occupancy rate, offering robust in-place income. With its desirable amenities, convenient location, and easy access to incredible green spaces, Sunset Ridge Apartments presents an appealing investment opportunity and provides residents with a place they can proudly call “home.”
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$ 34,500,000
Michel Commercial is pleased to present an exclusive listing for the sale of the Glenfield Park Estates, a 152-home, new construction, luxury apartment complex in the second-ring Twin Cities suburb of Blaine. Completed in 2023, Glenfield Park was developed by the highly regarded Kuepers Architects & Builders. Each of Glenfield Park’s well-appointed units features an open-concept layout, a private balcony, stainless steel appliances and a breakfast bar in the kitchen, in-unit laundry, and luxury flooring throughout. An indoor, ground-level parking space is currently included in the resident’s rent. The complex is rich with desirable amenities, including a fitness center, a theater, a resort-style outdoor pool and grilling station, a children’s play area, an elevator, and more. Glenfield Park is just ten minutes from the National Sports Center and the Village of Blaine Shopping Center and fifteen minutes from luxury golf course TPC Twin Cities, three of Blaine’s premier destinations. Lakeside Park at Spring Lake and Laddie Lake Park are both within two miles of the property, as is the Anoka County-Blaine Airport. There is a commercial hub less than four miles away, including Target, Menards, and restaurants. Glenfield Park offers quick access to Highways 10 and 65 and is within 16 miles of both central Minneapolis and downtown St. Paul. Glenfield Park Estates is a turn-key investment opportunity in one of the fastest-growing suburbs in the Twin Cities. Offering modern, luxury living in a prime location, below replacement costs. This property and location combine the best of both suburban and urban amenities, offering easy access to popular destinations, green spaces, and freeways. This stunning newly constructed property is a standout and a place residents are proud to call “home.”
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$ 126,000,000
Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of The Cliffs of Minnetonka (the “The Cliffs”), a sprawling 456-unit apartment community. This rare offering is for sale for the first time. Built in 1985, this community features spacious units, open concept living, in-unit washers and dryers (322 units), heated underground parking, and resort-style amenities. The Cliffs is located in the city of Minnetonka, one of the most desirable suburbs in the Twin Cities, and situated in the top-rated Wayzata School District. The Cliffs is bordered by residential communities to the north and a robust commercial area directly to the south. Ridgedale Center Mall, one of the busiest malls in the Twin Cities, is just a five-minute drive away and features 108 stores (1.1 million square feet of retail space). Downtown Minneapolis is less than ten miles away via direct route on Interstate 394, which is less than a block from The Cliffs’ entrance. The Cliffs of Minnetonka is a value-add investment opportunity and is well positioned for accelerated rent growth through interior upgrades in the apartment units. The property is 96% occupied and over $1.5MM in capital improvements have been made to the common areas within the last year. Offered free and clear of existing debt, this property is a high yield investment opportunity when coupled with today’s attractive financing options. The Cliffs of Minnetonka is a rare jewel of a property that was built to be a showstopper and is located in a high barrier of entry market with easy access to top employment sectors, shopping, and freeways.
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$ 73,500,000
Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the SpringBrook Apartments, an expansive 361- unit apartment complex featuring 242 detached garage stalls and resort-style common areas. This rare offering is for sale for the first time. Built in 1987, the Property is a value-add investment opportunity and is well positioned for strong rental growth through interior upgrades. A portion of the units have been renovated and serve as a model for the rental growth potential.
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Michel Commercial is a trusted multifamily brokerage, known for its integrity and track record of successful results. Established by Steve Michel in 1987, Michel Commercial has a strong reputation for extensive marketing and strong industry relationships. The Michel Commercial team are market experts who stay up-to-date with prevailing market conditions and trends. The firm has sold over $2.4 billion worth of apartment properties and regularly receives the “Power Broker Award’ for being among the highest overall in apartment transaction volume in the Twin Cities multifamily market.

The Executive Team

Over 100 Years of Combined Experience

Danielle Hoaby

Project Coordinator
Danielle joined Michel Commercial Real Estate in 2024, bringing over a decade of experienc ...

Jesse Thurston

Senior Associate
Jesse, the newest team member of Michel Commercial Real Estate, joining in 2024, has a bac ...

Stacie Mugazia

Executive Assistant
Stacie joined Michel Commercial Real Estate in 2022 after 15 years as a paralegal. She is ...

Steve Michel

President
Steve founded Michel Commercial Real Estate in 1987. He was licensed to sell real estate ...

Peter Michel

Vice President
Peter joined Michel Commercial Real Estate in 1991 and focuses solely on selling multifami ...

Phil Reesnes

Vice President
Phil joined Michel Commercial Real Estate in 2002. Specializing in multifamily housing, Ph ...

Heidi Addo

Vice President
Heidi joined Michel Commercial Real Estate in 2019 after many years of teaching elementary ...

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