FARGO, ND: Capstone has brokered the sale of U32, a Class A, 234-unit multifamily property in Fargo, ND.  Kevin Phelan and Josh Benard of Capstone brokered the transaction.

U32 is conveniently located on the north side of Fargo. It’s a quick drive to Interstate 29 and is in close proximity to Hector International Airport and North Dakota State University, making this property attractive to a diverse set of tenants.

U32 has a diverse unit mix and a full suite of amenities including an indoor pool, basketball court, beach volleyball court, gym, sauna, and yoga studio. Lounges and courtyards are dispersed throughout the property.

After the Seller was unable to find a Buyer via a listing process with a national brokerage, Capstone brought an off-market Buyer to the table who was able to perform a smooth closing.

“Fargo has become an attractive market for multifamily investors with its low vacancy rate, affordable lifestyle and business friendly political climate,” said Phelan. “We congratulate both Buyer and Seller on a seamless transaction and look forward to the continued success of U32 going forward.”

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