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
Eden Prairie Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
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