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New Mountain Capital Acquires Manufacturing Plant In Lakeville For $18.3M
SOLD
$18,300,000
Minnesota
See Similar DealsIndustrial210,012 SF
Sold 07/27/2023
SOLD
New Mountain Capital Acquires Manufacturing Plant In Lakeville For $18.3M
8235 220th Street West Lakeville, Minnesota 55044, USA
See Similar DealsIndustrial210,012 SF
Sold 07/27/2023
Summary
MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$87
Total Square Footage:210,012 SF
Transaction Type:Sale
A manufacturing plant in Lakeville, Minnesota, has been acquired by New Mountain Capital for $18.3 million. The property, located at 8235 220th Street West, spans 210,012 square feet and was sold by C.P. Converters Inc.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $18,300,000
- Address: 8235 220th Street West
- Market: Lakeville, Minnesota
New Mountain Capital, represented by Teddy Kaplan, closed the deal to acquire the manufacturing plant. Additionally, the packaging company tenant, CP Flexible Packaging, has agreed to remain in the property under a long-term lease as part of the agreement.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$976,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,016.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,751.34
Annual Debt Service$1,041,016.03
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