Updated Oct 10, 2026
HALL Structured Finance Provides $108M Loan To St. Joseph Group For 515 Walnut Tower
515 Walnut Street
$108,000,000
Units
390
Asset Type
MultiFamily
Closing
Nov 17, 2025
About this deal
AI
515 Walnut Tower is a multifamily asset located at 515 Walnut Street in downtown Des Moines, IA. This project consists of 33 stories with a total of 390 apartment units. The construction project is supported by a first lien construction loan amounting to $108 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $108,000,000
- Lender: HALL Structured Finance
- Landlord: St. Joseph Group
- Brokers: Jackie Meagher & Richard Price - Berkadia
- Loan Type: Construction
- Loan Date: 11/17/2025
The loan was arranged for St. Joseph Group to facilitate the development of the 515 Walnut Tower project. HALL Structured Finance played a critical role as the lender providing the necessary financing for this large-scale construction in Des Moines's urban setting.
On the Map
$108,000,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93