Sherman sells St. Paul Lowertown lofts for $21 million

Sherman Associates has sold the Rayette Building in Lowertown St. Paul that it redeveloped into lofts in 2014.  Minneapolis-based Sherman sold the 88-unit building to Seattle-based Goodman Real Estate Inc. for $21.2 million, according to a certificate of real estate value that was made public this week. The sale closed on March 21. JLL’s Capital Markets team represented Sherman Associates on the sale.  The seven-story Rayette building, at 261 E. 5th Street, was constructed in 1909. The Sherman…