Updated Oct 29, 2024
Merchants Capital Provides $77M Construction Loan For Development Site In Saint Paul
176 Robert Street South, Saint Paul, Minnesota 55107, United States
$77,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 13, 2023
About this deal
AI
The development site located at 176 South Robert Street in Saint Paul, Minnesota has recently secured a construction loan. The loan, provided by Merchants Capital, amounts to a substantial $77,000,000. This loan will be used to support the construction and development of the property.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $77,000,000
- Lender: Merchants Capital
Schafer Richardson, represented by Brad Schafer, serves as the landlord for this development site. As the construction loan is secured, plans will now move forward to develop the site into its intended purpose.
Players
Saint Paul Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93