An Eden Prairie firm recently made a big investment in the Med City by buying a collection of northwest townhomes for $9.3 million.
Interstate Development purchased 59 units in the Portage Circle neighborhood, just off of Superior Drive Northwest. That’s near Mayo Clinic's Superior Drive Support Center that houses Mayo Clinic Laboratories.
Interstate, a real estate development and investment company, purchased the residences on Nov. 10 under the name of Portage Multifamily LLC from Meridian Investment Group of Rochester LLC.
Interstate made a down payment of $50,000. The purchase price included $206,500 for appliances.
Oronoco-based Meridian is linked to Don Hoerle’s Castlewood Homes, which built the townhomes in 2005.