Updated Mar 11, 2025
Colliers Mortgage Provides $25M Construction Loan For Satori Apartments In Minneapolis
829 West Broadway Avenue, Minneapolis, Minnesota 55411, United States
$25,000,000
Units
112
Asset Type
MultiFamily
Closing
Feb 20, 2022
About this deal
AI
The Satori Apartments I LLC has secured a construction loan from Colliers Mortgage for the property located at 821-829 West Broadway Avenue in Minneapolis. The multifamily asset consists of 112 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Loan Type: Construction Loan
- Loan Terms: Fully amortized over 40 years
Colliers Mortgage will be providing the $25,000,000 construction loan for the Satori Apartments I LLC's multifamily property. The loan terms include a fully amortized payment plan over a period of 40 years.
Players
Minneapolis 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93