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

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FINANCED
$9,400,000

Minnesota

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Condo
Financed 07/16/2025
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FINANCED

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

Condo
Financed 07/16/2025
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Summary

Asset Type:Condo
Transaction Type:Loan

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

LENDER


Details

FINANCED
IMAGE: Luke Hingson & Hattie Johnson DATE: 7/17/2025 MARKET: Minneapolis, MN ASSET TYPE: Condo LENDER: Renovo Financial LOAN AMOUNT: $9,400,000 LOAN TYPE: Construction NOTE FROM LENDER: Renovo is excited to announce the closing of a construction loan for a four-unit residential condominium development with ground-floor professional office space in the Minneapolis MSA. Renovo provided a structure designed to support the sponsor's sales-driven business plan. With no exit fees, minimum interest, or minimum multiple requirements, the loan offered maximum flexibility—allowing the sponsor to capitalize on a fast sellout in one of the most supply-constrained submarkets in the region. Please reach out to Hattie Jo Johnson regarding all lending opportunities in the greater Minneapolis MSA. [email protected] Please reach out to Luke Hingson regarding all ground-up construction lending inquiries nationwide. [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,400,000.00

Monthly NOI$62,666.67
Monthly Debt Service$59,414.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00