John Kinzelberg Of Highgate Capital Group Acquires Burlington Apartments In Saint Paul For $64.3M

The property involved in this transaction is a multifamily asset located at 1180 Cushing Circle, Saint Paul, MN. The sale price for this property was $64,300,000, which represents a cost of approximately $146,804 per unit for the 438 residential units it contains.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $64,300,000
• Address: 1180 Cushing Circle
• Market: Saint Paul, MN
• Units: 438
• Price Per Unit: $146,804
• Seller: White Oaks Properties
• Buyer: John Kinzelberg - Highgate Capital Group

John Kinzelberg, representing Highgate Capital Group, executed this transaction, which includes assuming the property's mortgage. The financing details involved an $11.67 million downpayment with an interest rate of 3.78% and a 4.3% vacancy rate.