Thanks for visiting us on the web. Schafer Richardson provides quality investment, leasing, development, and construction services through locally-focused commercial and residential real estate projects. Our goal is to provide high quality places and projects in which to live and work. Our development projects range from small infill buildings to large-scale redevelopment projects. Please take your time to browse our web site and feel free to contact us if you have any questions or have further interest in our properties, services or real estate developments.
October 16, 2015
On September 15th, 2015 Schafer Richardson marked the one year anniversary of the founding of its private, non-traded real estate investment trust, SR Realty Trust, Inc.
Since inception SR Realty Trust, through its operating partner, has amassed a portfolio of 11 assets totaling approximately 690,000 sq. ft. and has made two joint venture investments. SR Realty Trust’s portfolio is comprised of office, industrial, retail, and multifamily assets with a current market value of approximately $64 million.
Recent acquisitions include the IDC Building, a 66,000 sq. ft. creative office building located in Minneapolis, MN. This brick and timber building is located in the heart of the trendy North Loop neighborhood and was 94% leased when it was acquired. The property was contributed to SR Realty Trust’s operating partner in an UPREIT transaction.
Another recently acquired property is 2112 Broadway, an office building located in Northeast Minneapolis, MN. The property is a 48,000 sq. ft. single story building that boast 18’ clear heights, abundant glass and close proximity to transit infrastructure. The property was acquired through an UPREIT transaction.
For more information regarding SR Realty Trust, please contact Evan Richardson, Director of Capital Markets for Shafer Richardson, at 612-359-5849.
October 15, 2015
Third North Apartments hosting myTalk 107.1 DJs for Project Down and Dirty Fundraiser
Schafer Richardson’s Third North Apartments will host the DJs of myTalk 107.1 for several days as they participate in Project Down and Dirty- the Restaurant. The event is a fundraiser for hunger relief. Charities benefitting include: Second Harvest Heartland, People Serving People, The Sheridan Story, and Open Arms of Minnesota. Find out more and get tickets at:
October 5, 2015
71 France is excited to announce the opening of Gallery71 and the first exhibition, Floor Plan. The exhibition includes work by Jehra Patrick, Pete Driessen, and Sean Smuda. Curated by Jehra Patrick, Pete Driessen, Sean Smuda, and Mary Bergs. Please join us for an opening reception on Wednesday, October 21, 2015 from 7:00 – 9:00 pm at 71 France.
October 2, 2015
Red 20 Wins MADACS Award for Best New Development
Red 20, developed by Schafer Richardson, won two Minnesota Multihousing Association MADACS awards on September 25th- Best New Development and Best Three Bedroom Floorplan. The MADACS Excellence Awards recognize achievement in multifamily design, advertising and community support. Steven Scott Management performed the lease up and marketing for the development, and manages the residential portion of the property. The building was designed by ESG Architects, constructed by Frana Companies, and is majority owned by IRET Properties.
Third North Wins MADACS Award for Best Team: General Members
Schafer Richardson congratulates Steven Scott Management and the team at Third North Apartments, a Schafer Richardson property, for winning a 2015 Minnesota Multihousing Association MADACS award for Best Team. Other winners may be found on the MMHA website at: http://www.mmha.com/MAIN/MADACS/2015-MADACS-Winners
September 28, 2015
Schafer Richardson would like to congratulate Jeannie Collins on her recent promotion to Property Manager. Jeannie came to Schafer Richardson a year ago as Assistant Property Manager and in her short time with Schafer Richardson has risen to Property Manager. She has a BS in Social Work from St. Cloud State and has her real estate license.
September 25, 2015
Maureen Michalski spoke with Kare 11’s Heidi Wigdahl to discuss Schafer Richardson’s plans for the Nye’s site in Minneapolis. Schafer Richardson and its partners, in response to stakeholder feedback, have revised plans for the site to maintain and renovate the existing historic buildings in place while adding quality low rise infill structures on the site. The plan will add active and engaging retail uses to the first floor of the buildings and improve the pedestrian connection from the vibrant East Hennepin retail node to the Mississippi River.
The developer of the Nye's Polonaise Room site met with two city committees Thursday afternoon.
September 21, 2015
Red 20 was recently nominated for a National Association of Industrial and Office Properties (NAIOP) Award of Excellence in the multifamily housing category. In addition, the development was nominated for the Minnesota Multi Housing Association MADACS award for Best New Development. The MADACS award (Multi Housing Achievement in Design, Advertising and Community Support) ceremony will be held on Friday September 25th in Minneapolis.
September 18, 2015
Schafer Richardson would like to congratulate Dan Schaffan on his recent promotion to Senior Property Manager. Dan has been with Schafer Richardson since 2008 and comes with 27 years of experience in commercial real estate that includes working with major developers in the Twin Cities.
September 17, 2015
Schafer Richardson is pleased to announce the opening of the second building of Aspen Heights in Watford City, North Dakota. The first residents started to move in on September 1st after eight months of construction. The building includes a total of 48 units consisting of one-, two- and three-bedroom units. The first building (also consisting of 48 units) finished in fall 2014. Demand for housing in the Bakken oil field region has remained strong. Watford City is one of the fastest growing communities in the nation jumping from a population of 1,764 in 2010 to an estimated 10,000 in 2014.
September 16, 2015
The first phase of 71 France officially opened its doors on September 15, 2015. Residents have been patiently waiting to take the first glimpse of their reserved units and the several residents moved in on opening day. The first building features 109 market rate rental units as well as amenities including a club room, fitness room, outdoor pool with sundeck, pet grooming area, outdoor terrace with firepit and grilling area, and access to the Promenade and Centennial Lakes. IRET and Schafer Richardson are excited to see the building come to life after a year of construction. For leasing information, please visit http://71france.com