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FPA Multifamily Acquires 132-Unit Multifamily Property In Plymouth For $25.25M

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SOLD
$25,250,000
Ted Bickel
Jeff Budish

Minnesota

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MultiFamily
Sold 08/17/2023
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Property Image
SOLD

FPA Multifamily Acquires 132-Unit Multifamily Property In Plymouth For $25.25M

1020 West Medicine Lake Drive Plymouth, Minnesota 55441, USA

See Similar Deals
MultiFamily
Sold 08/17/2023
Ted Bickel
Jeff Budish
the dealplayerscompscontact
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Summary

MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale

Dominium has successfully sold a 132-unit multifamily property located at 1020 W Medicine Lake Dr in Plymouth, MN. The property was bought by San Francisco-based FPA Multifamily for a total of $25.25 million. This multifamily asset offers a total of 132 units, with an average price per unit (PPU) of $191,288.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $25,250,000
  • Address: 1020 W Medicine Lake Dr, Plymouth, MN
  • Market: Plymouth, MN
  • Buyer: FPA Multifamily
  • Seller: Dominium
  • Brokers: Jeff Budish & Ted Bickel - NorthMarq
  • Units: 132
  • PPU: $191,288

This transaction was facilitated by the NorthMarq brokers, Jeff Budish and Ted Bickel. They played a crucial role in connecting the buyer, FPA Multifamily, with the seller, Dominium. With their expertise and negotiation skills, Budish and Bickel successfully closed the deal for the acquisition of this multifamily property in Plymouth.

Players

Ted Bickel
NorthMarq
Ted Bickel
8 deals$203.9M volume
BROKER
Jeff Budish
NorthMarq
Jeff Budish
8 deals$203.9M volume
BROKER
FPA Multifamily
FPA Multifamily
BUYER
D
Dominium
SELLER

Details

SOLD
IMAGE: Jeff Budish & Ted Bickel DATE: 08/17/2023 ADDRESS: 1020 W Medicine Lake Dr MARKET: Plymouth, MN ASSET TYPE: Multifamily BUYER: FPA Multifamily SELLER: Dominium BROKERS: Jeff Budish & Ted Bickel - NorthMarq SALE PRICE: $25,250,000 UNITS: 132 ~ PPU: $191,288 NOTE: Dominium has successfully sold a 132-unit multifamily property in Plymouth for $25.25 million to San Francisco-based FPA Multifamily.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$89,707.93
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