A growing local housing firm recently paid $11 million for 100 Rochester townhomes

Jeff Kiger, Post-Bulletin, Rochester, Minn.
·1 min read

Oct. 31—ROCHESTER — Rochester's

Black Swan Living

paid $11 million to add 100 Med City townhouses to its growing local housing portfolio last week.

Black Swan, under the name of Douglas Trail Townhomes Asset Management, purchased the two parcels that make up the Douglas Trail Townhomes, along Weatherstone Circle Northwest.

As part of the deal that closed on Oct. 25, 2022, Black Swan paid $300,000 for "appliances, office equipment, furniture, maintenance tools, materials, golf cart."

The property was built in 2001. It includes 40 two-bedroom/one-bathroom units and 60 three-bedroom/one-and-a-half bathrooms ranging from 850 square feet to 1,150 square feet.

Seattle, Wash.-based Weatherstone Townhomes Limited Partnership, the original owner, sold the Douglas Trail housing community.

Investment specialists Chris Collins and Evan Miller marketed the townhomes for Marcus & Millichap's Minneapolis office and lined up the buyer.

Olmsted County estimated the combined total market value of the two Douglas Trail Townhomes parcels at $9.5 million for 2022-2023.

This is the latest in a string of Rochester and Byron housing purchases for Black Swan.

In September, the firm paid $5 million for the 90-year-old former Rochester City Hall turned apartment complex called

Residences at Old City Hall

.

The firm also owns the Furlow Apartments, the Hamilton Apartments, the Raymond Apartments, the

Zick Apartment Building,

the

Uptown Landing

complex, Uptown Terrace and Nue 52 in Rochester. They also own the growing Stone Haven townhomes development in Byron.

Black Swan's portfolio now includes about 900 apartments/townhomes in the Rochester and Byron area. The firm has 23 employees on staff.