Marcus & Millichap Inc.
05/06/2026 | Press release | Distributed by Public on 05/06/2026 12:15
Marcus & Millichap Arranges $4.6M Sale of 20-Townhome Portfolio in the Minneapolis-St. Paul MSA
Press Releases
Marcus & Millichap Arranges $4.6M Sale of 20-Townhome Portfolio in the Minneapolis-St. Paul MSA
May 06, 2026
LinkedIn Email App
NEW RICHMOND, Wis., May 6, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 20-townhome portfolio in New Richmond, Wisconsin, for $4.6 million.
"Townhome portfolios in New Richmond rarely trade, as most are owned by individual homeowners, making this a particularly notable transaction for the market," said Scott M. Anderson, multifamily investment specialist. "This marks the largest townhome portfolio sale in the city to an investment group where the seller was not the original developer. With strong population growth, expanding development activity and increasing demand for quality housing, New Richmond is quickly emerging as one of western Wisconsin's most attractive and scalable residential markets. New Richmond offers an abundance of land supply, offers infrastructure for long-term sustaining of development, and offers ease of travel to the Twin Cities metro."
Anderson, a multifamily investment specialist in Marcus & Millichap's Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a Wisconsin-based investment group, and procured the buyer, a Wisconsin-based syndication.
The portfolio consists of 20 townhomes on Norway Pine Circle, near the up and coming neighborhood near the intersection of West Richmond Way and County Road A in New Richmond. Built in 2016, all units are three-bedroom, two-bathroom homes. The property is located in the growing City of New Richmond in St. Croix County, about 40 miles from Minneapolis-Saint Paul.
"Townhome portfolios in New Richmond rarely trade, as most are owned by individual homeowners, making this a particularly notable transaction for the market," said Scott M. Anderson, multifamily investment specialist. "This marks the largest townhome portfolio sale in the city to an investment group where the seller was not the original developer. With strong population growth, expanding development activity and increasing demand for quality housing, New Richmond is quickly emerging as one of western Wisconsin's most attractive and scalable residential markets. New Richmond offers an abundance of land supply, offers infrastructure for long-term sustaining of development, and offers ease of travel to the Twin Cities metro."
Anderson, a multifamily investment specialist in Marcus & Millichap's Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a Wisconsin-based investment group, and procured the buyer, a Wisconsin-based syndication.
The portfolio consists of 20 townhomes on Norway Pine Circle, near the up and coming neighborhood near the intersection of West Richmond Way and County Road A in New Richmond. Built in 2016, all units are three-bedroom, two-bathroom homes. The property is located in the growing City of New Richmond in St. Croix County, about 40 miles from Minneapolis-Saint Paul.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on May 06, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 06, 2026 at 18:15 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]