Colliers Brokers $6.28M Sale of Kestrel Village Apartments in Prior Lake, MN

Colliers has brokered the $6.28 million sale of Kestrel Village Apartments, a 48-unit multifamily community located at 16650 Brunswick Ave SE in Prior Lake, Minnesota, the firm announced April 7, 2026. The transaction marks a full-cycle deal for the Colliers team, which first sold the property in 2015.

Transaction Details and Deal Team

The sale was led by Colliers Executive Vice Presidents Dan Linnell, Mox Gunderson, and Adam Haydon, alongside Associate Vice President Devon Dvorak and Associate Drew Jackson. The team represented the seller, TE Miller Development, in the transaction.

Kentaurus Capital, a Twin Cities-based investment firm focused on the strategic acquisition and management of multifamily assets, acquired the community. No financing terms were disclosed.

"It was great to be involved in the full lifecycle of this asset after our team first sold the property in 2015," said Dvorak. "This was the perfect example of how to treat real estate and a perfect case study for the saying, 'Take care of your tenants, and they'll take care of you.' The owners were exceptional stewards of the property and were rewarded with long-standing residents and a highly competitive bidder pool when it came time to sell."

Property Overview: Kestrel Village Apartments

Kestrel Village Apartments features 33 two-bedroom units and 15 three-bedroom units, totaling 48 residences. The community is situated in Prior Lake, a suburb in the Twin Cities metro area. The property offers resident-focused amenities and is positioned near dining, entertainment, parks, and both Upper and Lower Prior Lake.

At a transaction price of $6.28 million across 48 units, the deal implies a price of approximately $130,833 per unit. No cap rate, occupancy rate, or square footage data were disclosed in connection with the transaction.

Colliers Multifamily Platform

The Colliers Minneapolis-St. Paul multifamily team — comprising Linnell, Gunderson, Haydon, Dvorak, and Jackson — has collectively sold or capitalized more than $3.5 billion in multifamily assets across the Midwest. The team's involvement in both the 2015 sale and the 2026 disposition of Kestrel Village illustrates the repeat-relationship model that characterizes much of the firm's investment sales activity in the region.

The full transaction article was also published in Finance and Commerce.