Published March 05, 2010, 11:43 AM
Alerus Financial selling division
GRAND FORKS, N.D. (AP) - Grand Forks-based Alerus Financial is selling its property management division.
GRAND FORKS, N.D. (AP) - Grand Forks-based Alerus Financial is selling its property management division.
The company, which bought five financial firms last year, says it wants to focus on its core banking services.
The property management division oversees about 900 residential units and 100,000 square feet of commercial real estate in the Grand Forks and Fargo areas.
On April 1, the division will be sold to Minot-based Investment Management and Marketing, which already manages 4,000 residential units in six Midwestern states and has more than 100 employees. Alerus isn't disclosing the sale price.
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