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Minneapolis

Renovo Financial Closes $9.4M Construction Loan For Minneapolis Four-Unit Condo Development
FINANCEDCondo

Renovo Financial Closes $9.4M Construction Loan For Minneapolis Four-Unit Condo Development

$9,400,000

Building Size

Asset Type

Condo

Closing

Jul 16, 2025

AI

The asset involved in this transaction is a four-unit residential condominium development with ground-floor professional office space located in the Minneapolis MSA. The transaction is categorized under a construction loan amounting to $9,400,000, facilitated by Renovo Financial.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $9,400,000
  • Lender: Renovo Financial
  • Loan Type: Construction

Key individuals involved in this transaction include Hattie Jo Johnson, who can be contacted for lending opportunities in the greater Minneapolis MSA, and Luke Hingson, who is responsible for ground-up construction lending inquiries nationwide. Their contact information is [email protected] and [email protected], respectively.

Players

Renovo Financial
Renovo FinancialLender

Market Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.69%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93