St. Paul, MN, July 1, 2021 \u2013 Simek Property Group sells their fourth apartment property this year in a 1031 Exchange. Parkway Flats, located at 931-945 St. Paul Avenue in the Highland Park neighborhood, recently sold for $2.45 million. This two-building property contains 20 units consisting of one- and two-bedrooms.<\/p>\n
Stuart Simek, President and Owner of Simek Property Group says \u201cIt was a good opportunity to sell this asset and consolidate holdings into larger investments. I learned the apartment business on many smaller buildings and am now focusing efforts on properties with 75 or more units. This sale will be a part of a 1031 exchange.\u201d<\/p>\n
Simek bought the property in 2014 and completed a renovation that included new kitchens, bathrooms, windows, roof, and common areas. The property is located near the eastern edge of the Highland Park Ford redevelopment site.<\/p>\n
About Simek Property Group.<\/strong> Simek Property Group has been involved in the commercial real estate investment business since 1995. Investment projects have included multi-family, office, and retail. Development projects have included townhomes, retail, and condo conversions. They own more than 350 apartment units and 100,000 square feet of retail and industrial throughout the Minneapolis-St. Paul area.<\/p>\n","protected":false},"excerpt":{"rendered":" St. Paul, MN, July 1, 2021 \u2013 Simek Property Group sells their fourth apartment property this year in a 1031 Exchange. Parkway Flats, located at 931-945 St. Paul Avenue in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n