Updated Oct 28, 2024
Connor Group Acquires 275-Unit Multifamily Property In Burnsville, MN For $76.5M
14501 Grand Avenue, Burnsville, Minnesota 55306, United States
$76,500,000
Units
275
Asset Type
MultiFamily
Closing
Aug 29, 2022
About this deal
AI
The multifamily property located at 14501 Grand Ave in Burnsville, MN has been sold for a price of $76,500,000. The property consists of 275 units, resulting in a price per unit of $278,182. The transaction took place on August 30, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $76,500,000
- Address: 14501 Grand Ave, Burnsville, MN
- Market: Burnsville, MN
- Buyer: Connor Group
- Seller: LeCesse Development Corp
- Broker: CBRE
- Units: 275
- Price Per Unit: $278,182
The sale of this multifamily property was facilitated by CBRE. Connor Group acted as the buyer, while LeCesse Development Corp served as the seller. This transaction highlights the active real estate market in Burnsville, MN, and the continued interest in multifamily properties.
Players
Burnsville 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93