Roers Companies is pleased to announce the successful sale of Axle Apartments, a 262-unit community in Fridley, Minnesota, which officially closed on September 17, 2025.
Axle holds a special place in Roers Cos. history as the company’s first workforce housing community, designed to provide attainable housing options for middle-income residents, serving as a vital addition to the market. The property opened in April 2022 and reached 95% leased at opening — the fastest lease-up in company history. This achievement accentuated the strength of the site, quality of the product, and dedication of Roers Cos.’ development, marketing, leasing, and management teams.
The project surpassed original proforma projections, delivering a realized IRR that far exceeded investor expectations. This sale represents a textbook execution of Roers Cos.’ mission: deliver consistent cash flow, complete strategic sales in a timely manner, and proactively manage risk to maximize returns. Axle exemplifies the type of community Roers Cos. is known for — thoughtfully designed, high-quality housing that meets demand while generating strong outcomes for investors. This transaction further emphasizes our ability to execute strategy successfully, even in a complex market environment.
With this milestone, Roers Cos. reinforces its commitment to building high-quality, in-demand multifamily communities nationwide and creating opportunities that serve residents, strengthen communities, and deliver exceptional value for investors.
Interested in learning more about how Roers Companies delivers strong results through strategic execution and thoughtfully designed multifamily communities? Connect with your investor relations professional or contact the investor relations team here.
