Updated Oct 28, 2024
Associated Bank Provides $30M Construction Loan For Chaska Multifamily Development
200 Clover Ridge Drive Chaska,Minnesota
$30,000,000
Units
176
Asset Type
MultiFamily
Closing
Oct 20, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 200 Clover Ridge Drive in Chaska, Minnesota. It consists of 175 units and is owned by Chase Real Estate.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Address: 200 Clover Ridge Drive
- Market: Chaska, Minnesota
- Lender: Associated Bank - Randy Stille
- Loan Type: Construction Loan
The lender for this deal is Associated Bank, represented by Randy Stille. The loan provided for the transaction is a construction loan with a total amount of $30,000,000.
Players
Chaska MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93