Updated Oct 29, 2024
New Mountain Capital Acquires Manufacturing Plant In Lakeville For $18.3M
8235 220th Street West Lakeville, Minnesota 55044, USA
$18,300,000
$87/SF
Building Size
210,012 SF
Asset Type
Industrial
Closing
Jul 27, 2023
About this deal
AI
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.
On the Map
$18,300,000
$87/SF
Industrial
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Players
Lakeville Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93