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A development venture is seeking $10 million of equity for a 50% stake in a planned residential condominium complex in Saint Paul, Minn.

A development venture is seeking $10 million of equity for a 50% stake in a planned residential condominium complex in Saint Paul, Minn. The $50 million project is being developed by local player Pak Properties, headed by Rich Pakonen, and Real Estate Development Group, a Naples, Fla., They are putting up $2.5 million of equity. Groundbreaking is scheduled for August.

About RDG Development

The Real Estate Development Group is a full service real estate development company with interests in the United States and Internationally . Included in its properties are conversions of historic brownstones, construction of new urban condominiums, high rises and estate homes, multi-family apartment complexes, hotels, resorts and commercial properties.

 

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RDG Development has offices in Florida and Minneapolis MN.