Hyde Development & Mortenson Properties Secures $12.8M Loan For Fridley, Minnesota Industrial Property
5101 Industrial Boulevard Northeast, Fridley, Minnesota 55421, United States
$12,800,000
$66/SF
Building Size
191,949 SF
Asset Type
Industrial
Closing
Feb 14, 2022
AI
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
Minneapolis Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.24%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93