Updated Dec 26, 2025
Lion Rock Properties Acquires Three Downtown Minneapolis Multifamily Properties From Sentinel Real Estate For $16.2M
1500 La Salle Avenue, 1417 La Salle Avenue & 1501 La Salle Avenue
$16,200,000
Units
238
Asset Type
MultiFamily
Closing
Dec 23, 2025
About this deal
AI
Three properties located at 1500, 1417 & 1501 La Salle Avenue in Minneapolis, MN have been sold as a multi-family asset. The transaction was completed for a total amount of $16,200,000 for 238 units, resulting in a price per unit of $68,067.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $16,200,000
- Buyer: Lion Rock Properties
- Seller: Sentinel Real Estate
- Brokers: Lance Steiger & Erin Salway - Cushman & Wakefield
- Units: 238
- Price Per Unit: $68,067
The deal involved key players in the real estate market, with Lion Rock Properties acquiring the properties from Sentinel Real Estate. Lance Steiger and Erin Salway represented the transaction on behalf of the buyer and seller respectively, facilitating the sale of these well-renovated units positioned for future growth.
On the Map
$16,200,000
MultiFamily
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Players
Minneapolis 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
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93