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FPA Multifamily Acquires Multifamily Portfolio In Minneapolis From Centerspace For $76.6M
SOLD
$76,600,000
Minnesota
See Similar DealsMultiFamily
Sold 11/11/2025
SOLD
FPA Multifamily Acquires Multifamily Portfolio In Minneapolis From Centerspace For $76.6M
MultiFamily
Sold 11/11/2025
Summary
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in this transaction is a multifamily portfolio located in Minneapolis, MN, comprising a total of 564 units. The sale price of the portfolio amounted to $76,600,000, translating to approximately $135,816 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $76,600,000
- Units: 564
- PPU: $135,816
- Buyer: FPA Multifamily
- Seller: Centerspace
- Market: Minneapolis, MN
This transaction involved Centerspace selling six multifamily properties to a subsidiary of FPA Multifamily. This sale follows Centerspace's recent $124 million disposition of a St. Cloud portfolio, which is part of its strategy to optimize portfolio quality and capital allocation.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,085,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$272,143.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$363,123.08
Annual Debt Service$4,357,476.95
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