Partner Apartments Acquires 121-Unit Multifamily In Ramsey, Minneapolis For $29M

14450 Rhinestone Street Northwest, Ramsey, Minnesota 55303, United States

$29,000,000

Units

121

Asset Type

MultiFamily

Closing

Sep 26, 2022

AI

A multifamily property located at 14450 Rhinestone Street in Ramsey, Minneapolis has been sold for $29,000,000. The property consists of 121 units, with a price per unit of $239,669.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $29,000,000
Units: 121
Price per Unit: $239,669

The buyer in this transaction is Partner Apartments, while the seller is Curtis Capital Group.

Players

PA

Partner ApartmentsBuyer

Anoka MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.55%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93