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Cedarst Companies Secures $170M Loan For Minneapolis Multifamily Portfolio

Property Image
FINANCED
$170,000,000

Minnesota

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MultiFamily
Financed 07/19/2022
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Property Image
FINANCED

Cedarst Companies Secures $170M Loan For Minneapolis Multifamily Portfolio

300 6th Avenue North, Minneapolis, Minnesota 55401, United States

See Similar Deals
MultiFamily
Financed 07/19/2022
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Summary

MINNESOTA
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 300 6th Avenue North, 608 3rd Street North, and 246 7th Avenue in Minneapolis has been involved in a recent transaction. The property consists of 358 units and is owned by CEDARst Companies, with Will Murphy representing the landlord. The deal was facilitated by brokers Pat Minea and Dan Trebil from Northmarq.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $170,000,000
  • Units: 358
  • Address: 300 6th Avenue North, 608 3rd Street North, and 246 7th Avenue, Minneapolis
  • Market: Minneapolis

The involvement of key individuals and companies in this transaction offers additional insight. Will Murphy, representing CEDARst Companies, played a crucial role as the landlord. Pat Minea and Dan Trebil from Northmarq acted as the brokers responsible for facilitating the deal.

Players

Patrick (Pat) Minea
2 deals$210M volume
BROKER

Daniel (Dan) Trebil
NorthMarq
5 deals$325.2M volume
BROKER

Will Murphy
CEDARst Companies
8 deals$440.7M volume
LANDLORD

Details

FINANCED
IMAGE: Will Murphy DATE: 07/19/2022 ADDRESS: 300 6th Avenue North, 608 3rd Street North & 246 7th Avenue MARKET: Minneapolis ASSET TYPE: Multifamily ~ UNITS: 358 LANDLORD: CEDARst Companies - Will Murphy BROKERS: Pat Minea & Dan Trebil - Northmarq LOAN AMOUNT: $170,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$170,000,000.00

Monthly NOI$1,133,333.33
Monthly Debt Service$1,074,515.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00