$2.4 Million Sale of “Eat Street” Brownstones, Minneapolis

October 2017

FIDES Investment, LLC divested a total of 594 units in 16 different properties during 2017.  The properties were primarily value-add acquisitions in suburban Chicago and downtown Minneapolis, and were purchased during 2014 and 2015.  “The strong investment climate was ideal for maximizing offers.  Each deal had multiple bidders and debt financing was plentiful.  Over the last several years we invested capital to upgrade the properties, and this resulted in significant revenue growth.   We felt that 2017 was an ideal time to sell the assets due to favorable market conditions.  This resulted in an average cap rate of 4.80%, and an average property IRR of 20%.”  said Gregg Handrich of FIDES.