Updated Oct 29, 2024
FPA Multifamily Acquires Multifamily Property In Bloomington, Minnesota For $32.8M
9900 Briar Road,Bloomington, Minnesota
$32,800,000
Units
213
Asset Type
MultiFamily
Closing
Dec 30, 2022
About this deal
AI
9900 Briar Road, a multifamily property located in Bloomington, Minnesota, was recently sold for a price of $32,800,000. The property consists of 213 units, with a price per unit of $153,991.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,800,000
- Units: 213
- Price per Unit: $153,991
- Address: 9900 Briar Road, Bloomington, Minnesota
The buyer in this transaction was FPA Multifamily, represented by Greg Fowler & Dan Kaplan. The seller was Belgarde Property Services Inc.
The multifamily sale at 9900 Briar Road,Bloomington, Minnesota in Minneapolis, Minnesota sold for $32.8M in 2022. Reported inventory is 213 units across 213 units. Named participants on the 9900 Briar Road,Bloomington, Minnesota sale are Greg Fowler, Dan Kaplan. This page is the Minneapolis, Minnesota file for the 9900 Briar Road,Bloomington, Minnesota multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Minneapolis sit in the Market section below. Filter that Minneapolis multifamily set by closing date to see what else sold near 9900 Briar Road,Bloomington, Minnesota around 2022. Published consideration for 9900 Briar Road,Bloomington, Minnesota is $32.8M, dated 2022. Cite this FPA Multifamily Acquires Multifamily Property In Bloomington, Minnesota For $32.8M sale when underwriting similar multifamily product around Minneapolis, Minnesota.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93