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
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