Keweenaw Land Association Acquires 29,071 Acres Of Land In Michigan & Northern Wisconsin For $5M
Michigan City, IN, USA
$5,000,000
$0/SF
Building Size
1,266,332,760 SF
Asset Type
—
Closing
Oct 6, 2021
About this deal
AI
Keweenaw Land Association has acquired a land asset in Michigan & Northern Wisconsin, spanning approximately 29,071 acres. The transaction took place on October 6, 2021, with Sage Minerals Inc. selling the property to the buyer for a total price of $5,000,000.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $5,000,000
- Market: Michigan & Northern Wisconsin
- Acres: 29,071
The buyer, Keweenaw Land Association, successfully completed the acquisition of the land from the seller, Sage Minerals Inc. This transaction marks a significant investment in Michigan & Northern Wisconsin's real estate market.
Players
Michigan City CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93