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Lion Rock Properties Acquires Three Downtown Minneapolis Multifamily Properties From Sentinel Real Estate For $16.2M
SOLD
$16,200,000
Minnesota
See Similar DealsMultiFamily
Sold 12/23/2025
SOLD
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
See Similar DealsMultiFamily
Sold 12/23/2025
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
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.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$864,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,555.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,796.26
Annual Debt Service$921,555.18
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