Updated Oct 28, 2024
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
About this deal
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.
The multifamily sale at 14450 Rhinestone Street Northwest, Ramsey, Minnesota 55303, United States in Anoka, Minnesota sold for $29M in 2022. Reported inventory is 121 units across 121 units. This page is the Anoka, Minnesota file for the 14450 Rhinestone Street Northwest, Ramsey, Minnesota 55303, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Anoka sit in the Market section below. Filter that Anoka multifamily set by closing date to see what else sold near 14450 Rhinestone Street Northwest, Ramsey, Minnesota 55303, United States around 2022. Published consideration for 14450 Rhinestone Street Northwest, Ramsey, Minnesota 55303, United States is $29M, dated 2022. Cite this Partner Apartments Acquires 121-Unit Multifamily In Ramsey, Minneapolis For $29M sale when underwriting similar multifamily product around Anoka, Minnesota.
Players
Anoka MultiFamily Market Snapshot
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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