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HALL Structured Finance Provides $108M Loan To St. Joseph Group For 515 Walnut Tower
FINANCED
$108,000,000
MultiFamily
Financed 11/17/2025
FINANCED
HALL Structured Finance Provides $108M Loan To St. Joseph Group For 515 Walnut Tower
515 Walnut Street
See Similar DealsMultiFamily
Financed 11/17/2025
Summary
IOWA
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$108,000,000.00
Monthly NOI$720,000.00
Monthly Debt Service$682,633.47
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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