Updated Nov 28, 2024
Capital Partners Acquires Industrial Portfolio In Minneapolis & St. Paul For $249M
Minneapolis, Minnesota, United States
$249,000,000
$124,500,000/SF
Building Size
2 SF
Asset Type
Industrial
Closing
Nov 13, 2022
About this deal
AI
The industrial property located in the portfolio of Minneapolis & St. Paul has been sold. The sale was facilitated by Jason Simek, representing Capital Partners - Jason Simek and Investcorp, acting as the buyer. The property was sold by Artis REIT. The transaction took place on November 13, 2022. The property spans 2,500,000 square feet and was sold for a price of $249,000,000, resulting in a price per square foot of $100.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $249,000,000
- Address: Portfolio
- Market: Minneapolis & St. Paul
Jason Simek, representing Capital Partners - Jason Simek, and Investcorp played a crucial role as the buyer's representatives in this deal. They successfully acquired the industrial property from Artis REIT, marking a significant transaction in the Minneapolis & St. Paul market.
Players
Minneapolis 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93