Gaughan Companies Brokers an $800,000 Condo Purchase in Isanti, Minnesota
Forest Lake, MN – Earlier this month, Gaughan Companies/CORFAC International represented the seller and procured the purchaser in an $800,000 commercial real estate brokerage deal in which Isanti Condos LLC obtained 17 fully-leased units in Isanti’s (MN) Rum River Condominium building.
Representing Gaughan Companies and CORFAC International in the deal were Gaughan vice presidents Lou Suski and John Chirhart. Larry Olson and Gary Stenson represented Isanti Condos.
Located about 40 miles north of Minneapolis, the Rum River Condominiums – built in 2005 – are located in a 50-unit building with underground parking located on 2.6 acres of land.
Gaughan Companies, which was recently awarded an A+ rating by the Minnesota/North Dakota Better Business Bureau (BBB), is a full service real estate brokerage firm. The A+ rating is the BBB’s top honor.
Suski said of the Isanti Condos deal, “Despite the challenges of the current investment market and the distance from the Twin Cities core metropolitan area, we were able to close this transaction in just over 120 days after listing. The new owners acquired a fully-leased, well-designed condo portfolio yielding positive cash flow at an excellent price.”
For more information about Gaughan Companies and Corfac, visit the Gaughan Companies website.
- Contact Information
- Penny Yohnk
- Executive Vice President
- Gaughan Companies
- Contact via E-mail
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