Updated Oct 28, 2024
Abacus Capital Group Sells Multifamily Property In Minneapolis For $50.7M
5245 Wayzata Boulevard, Minneapolis, Minnesota 55416, United States
$50,700,000
Units
158
Asset Type
MultiFamily
Closing
Aug 22, 2022
About this deal
AI
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
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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93