Wisconsin Real Estate Firm Expands Stewartville Investments with $6.5 Million Townhome Purchase

What's Happening?

A Wisconsin-based real estate company, PRE/3, has made a significant investment in Stewartville, Minnesota, by purchasing a townhome community for $6.5 million. This acquisition follows their earlier purchase of an apartment complex for $9.35 million, bringing their total investment in the area to $15.85 million. The townhome community, known as the Cottages of Stewartville, consists of 61 units and five buildings. PRE/3, which manages properties across 16 states, paid a $1.62 million down payment for the property. The seller, Cottages of Stewartville, LLC, is led by Brian Solrud and is based in North Oaks, Minnesota. Olmsted County has estimated the market value of the Cottages property at $5.61 million for the years 2025-2026.

Why It's Important?

The investment by PRE/3 in Stewartville highlights the growing interest in real estate development in smaller communities. This move could stimulate local economic growth, increase housing availability, and potentially raise property values in the area. As PRE/3 expands its portfolio, it may attract more businesses and residents to Stewartville, contributing to the town's development. The firm's strategy of investing in multifamily properties across various states suggests a robust demand for rental housing, which could influence regional real estate trends and market dynamics.

What's Next?

PRE/3's continued investment in Stewartville may lead to further development projects, potentially enhancing the town's infrastructure and amenities. Local stakeholders, including government officials and community leaders, might engage with PRE/3 to discuss future collaborations or initiatives that benefit the community. Additionally, the real estate market in Stewartville could see increased activity as other investors and developers take note of PRE/3's investments.

Beyond the Headlines

The acquisition of the Cottages of Stewartville by PRE/3 may have broader implications for housing policy and urban planning in smaller towns. As real estate firms invest in these areas, there could be discussions around sustainable development, affordable housing, and community engagement. The trend of investing in multifamily properties might also reflect changing demographics and housing preferences, with more people opting for rental options over homeownership.