Updated Mar 11, 2025
CJK Investments II, LLC Secures $7M Acquisition Loan For 61-Unit Multifamily Property On College Ave, Morris, Minnesota
503 College Avenue, Morris, Minnesota 56267, United States
$7,000,000
Units
61
Asset Type
MultiFamily
Closing
Feb 16, 2022
About this deal
AI
The multifamily property located at 503 College Ave in Morris, Minnesota has been involved in a recent transaction. The property consists of 61 units and was acquired by CJK Investments II, LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Loan Type: Acquisition Loan
- Loan Terms: 10-year term and 30-year amortization
- Lender: Colliers Mortgage - David Juran
David Juran from Colliers Mortgage served as the lender in this transaction. With a loan amount of $7,000,000, the acquisition loan had a 10-year term and a 30-year amortization. CJK Investments II, LLC acted as the landlord in this deal.
Players
Morris 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93