Hyde Development & Mortenson Properties Secures $12.8M Loan For Fridley, Minnesota Industrial Property
FINANCED
$12,800,000
Minnesota
See Similar DealsIndustrial191,949 SF
Financed 02/15/2022
FINANCED
Hyde Development & Mortenson Properties Secures $12.8M Loan For Fridley, Minnesota Industrial Property
5101 Industrial Boulevard Northeast, Fridley, Minnesota 55421, United States
See Similar DealsIndustrial191,949 SF
Financed 02/15/2022
Summary
MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$66
Total Square Footage:191,949 SF
Transaction Type:Loan
Hyde Development and Mortenson Properties, Inc. have closed a transaction in Fridley, Minnesota. The industrial property located at 5101 Industrial Blvd. and 38 Northern Stacks Drive spans a total area of 191,949 square feet. The asset type of this property is industrial.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,800,000
- Loan Terms: Seven-year, fixed-rate loan
- Landlord: Hyde Development and Mortenson Properties, Inc.
- Brokers: Brock Yaffe and Britta Lund - JLL Capital Markets
The loan amount for this transaction was $12,800,000, with a fixed-rate loan term of seven years. Brock Yaffe and Britta Lund from JLL Capital Markets represented the parties involved in the deal.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,800,000.00
Monthly NOI$85,333.33
Monthly Debt Service$80,904.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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