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8300 Commonwealth Drive, Ed...

JLL Capital Markets Arranges $85.1M Construction Loan For Mixed-Use Property In Eden Prairie
FINANCEDMixed-use

JLL Capital Markets Arranges $85.1M Construction Loan For Mixed-Use Property In Eden Prairie

8300 Commonwealth Drive, Eden Prairie, Minnesota, USA

$85,100,000

Building Size

Asset Type

Mixed-use

Closing

Oct 25, 2021

AI

Timberland Partners has secured a construction loan of $85,100,000 for a mixed-use building located at 8300 Commonwealth Drive in Eden Prairie, MN. The property consists of 246 units and is part of the local real estate market.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $85,100,000
  • Address: 8300 Commonwealth Drive, Eden Prairie, MN
  • Market: Eden Prairie, MINN
  • Units: 246

The loan was provided by an undisclosed lender and falls under the category of a fixed-rate construction loan. The terms of the loan were not specified in the available information.

JLL Capital Markets represented Timberland Partners in the deal, with Josh Talberg, Brock Yaffe, Dan Linnell, Mox Gunderson, Pat McMullen, Adam Haydon, William Haass, and Ken Dayton serving as the brokers involved.

Players

Josh Talberg

JLL

Broker

$1.3B

vol

28 deals

Broker
TP
Timberland PartnersLandlord

Eden Prairie Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93