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An entity affiliated with Christianson Cos. has acquired a 601-unit single-family rental portfolio from Meridian Mortgage. The build-to-rent homes are spread across the Fargo, N.D., metro area. Cushman & Wakefield, alongside Jennifer Stein Real Estate Inc., represented the seller.

Although the acquisition price was undisclosed, it took the crown for the highest-valued multifamily sale in North Dakota’s history, according to multiple sources, including Cushman & Wakefield. The purchase price also ranks among the highest for any commercial real estate asset sold in the state.