Abacus Capital Group Sells Multifamily Property In Minneapolis For $50.7M
SOLD
$50,700,000
+ 1
Minnesota
See Similar DealsMultiFamily
Sold 08/23/2022
SOLD
Abacus Capital Group Sells Multifamily Property In Minneapolis For $50.7M
5245 Wayzata Boulevard, Minneapolis, Minnesota 55416, United States
See Similar DealsMultiFamily
Sold 08/23/2022
+ 1
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 5245 Wayzata Blvd in Minneapolis has been sold for a price of $50,700,000. The property consists of 158 units, resulting in an average price per unit of $320,886. The sale was facilitated by brokers Ted Bickel, Jeff Budish, Ryan Spengler, Lauren Panser, and Lacey O'Connor from Northmarq on behalf of the seller, Abacus Capital Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,700,000
- Units: 158
- Price per Unit: $320,886
- Address: 5245 Wayzata Blvd, Minneapolis
This transaction involved the collaboration of brokers from Northmarq, including Ted Bickel, Jeff Budish, Ryan Spengler, Lauren Panser, and Lacey O'Connor. They played a crucial role in representing Abacus Capital Group in the sale of the property.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,704,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$180,126.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$240,343.87
Annual Debt Service$2,884,126.39
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