Updated Oct 29, 2024
Interstate Development Acquires $17.8M Commercial Portfolio In Edina, Minnesota
3907 West 50th Street Edina, Minnesota 55424, USA
$17,800,000
Building Size
—
Asset Type
Commercial
Closing
Aug 8, 2023
About this deal
AI
Interstate Development has acquired a portfolio of four commercial properties in Edina, Minnesota for a total sales price of $17.8 million. The properties included in the portfolio are located at 3907 50th Street West, 3911 50th Street West, 3911 50th Street West, and 4450 76th Street West. This portfolio purchase includes the retail section of the 5000 France condominiums and the Edina Theatre.
Summary of transation details
- Property Type: Commercial
- Transaction Amount: $17,800,000
- Buyer: Interstate Development - Victoria Perbix
Victoria Perbix, representing Interstate Development, spearheaded the acquisition of these commercial properties. This purchase expands Interstate Development's investment portfolio in Edina and solidifies their presence in the local retail and entertainment sectors.
Players
Minneapolis Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93