Monument Capital Management Announces $19.75 Million Acquisition of Rental Apartment Community in Brooklyn Park, Minnesota

Acquisition of 144-unit Ridgebrook Apartments is Monument’s

6^th investment in the Twin Cities

MINNEAPOLIS, MN (Jan. 27, 2022) –  Monument Capital Management, an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, announced the $19.75 million acquisition of Ridgebrook Apartments, a 144-unit multifamily community located at 5840 73^rd Avenue North, Brooklyn Park, MN. Brooklyn Park is located approximately 20 minutes north of downtown Minneapolis.

The acquisition is a joint venture between Monument and unnamed private investors. Monument now owns and manages five multi-family properties in Minnesota totaling 747 units, inclusive of joint ventures.

North Shore Development Partners was the seller and was represented by Ted Brickel of Colliers. Monument self-represented in the transaction.

The ideally situated, three-story Ridgebrook Apartments complex was built in 1969, and sits on 7.5 acres of land. Amenities include a clubhouse, fitness center, pool, garages, playground, a BBQ area, and a sundeck.

Monument will be upgrading the community’s common areas as well as the individual units, replacing appliances and providing renters an enhanced overall experience.

“According to Minnesota Employment & Economic Development, the state is expected to experience double-digit growth in a number of industries in the ten-year trajectory between 2018 and 2028,” said Stuart Zook, Principal and CIO of Monument Capital Management. “Among them, service industries, healthcare and technical, and computer and mathematical occupations. It is this type of robust job growth that is furthering Minnesota’s appeal as a national job-growth hub, and consequently increasing demand for workforce housing.”

“As an A-Rod Corp company, Monument has a keen interest in Minnesota. We have a strong belief in the long-term growth and evolution of the state, and are proud to be continuously increasing our presence,” concluded Erin Knight, President of Monument Capital Management.

For more information, please visit http://www.mcmgmtllc.com/.

Grand Station Receives TCO for 300-unit Tower in Downtown Miami

Collaboration with the Miami Parking Authority on the development emphasizes Downtown Miami’s urban amenities; ease of access to transportation, entertainment and more

MIAMI (Oct. 20, 2021) – Grand Station Apartments, a transformative collaboration between Miami-based ROVR Development and the Miami Parking Authority (MPA), has received its TCO and residents have started to move-in.

The $70 million, 30-story apartment tower, located at 240 North Miami Avenue, features 300 beautifully appointed residences, and brings a combination of residential floorplans to MPA’s headquarters, while expanding the existing garage at Courthouse Center with 350 parking spaces.

Led by Principals Oscar Rodriguez and Ricardo Vadia, ROVR is developing the project, and Monument Real Estate Services (MRES), an A-Rod Corp Company, will be the property manager.

Designed by Miami-based Zyscovich Architects and Anillo, Toledo, Lopez LLC, Grand Station will bring residents within proximity of Miami’s most important transit systems. Government Center’s Metrorail, Metromover and bus hubs, as well as MiamiCentral which features the tri-county rail service Brightline and will eventually include TriRail, are within a five-minute walk of the property.

Studios, one- and two-bedroom units will feature high-end finishes such as custom Italian cabinets, stainless steel appliances, quartz countertops, walk-in closets and a full-size washer and dryer. Effective rents range from $1783 to $2300.

“We are very proud to have worked alongside the Miami Parking Authority (MPA) to conceptualize, and ultimately realize this wonderful project,” said Rodriguez. “It creatively maximizes MPA’s space, allowing them to enhance their existing facilities.”

“Transit-oriented developments are key to our city’s urban evolution,” said Vadia. “The building’s accessibility to Miami Dade College, the Health District and downtown as a whole ideally positions Grand Station.”

Grand Station Apartments brings a cosmopolitan flair with a vast array of indoor and outdoor amenities. The development includes an expansive New York-inspired rooftop terrace, an outdoor kitchen with grilling area and an oversized swimming pool with sun deck and several hot tubs, offering residents extraordinary views of the city scape.

An upscale amenities deck with a variety of Class A finishes features a full-size state-of-the-art fitness center, wellness treatment and spa rooms with an indoor heated soaking pool, a computer and business center, and a clubroom, as well as an indoor/outdoor spa to unwind. The community also includes a concierge service, dog spa with pet station, bike storage and 24-hour package lockers.

###

About ROVR Development

With more than $250 million of real estate currently under development, ROVR continues to expand their footprint and shape the city’s skyline with a number of other Miami projects, among them Biscayne 112, a luxury rental community in North Miami and the now completed Fairchild, a $50 million condominium development in Coconut Grove. The firm is also co-developing The District in Downtown Miami, a mixed-use condominium, with JV partner Related Group, bringing a 37-story mixed-use project that would have 343 residential units and nearly 2,300 square feet of ground-floor retail space. For additional information, visit www.ROVRDev.com.