FPA Multifamily Acquires Multifamily Property In Bloomington, Minnesota For $32.8M
SOLD
$32,800,000
Minnesota
See Similar DealsMultiFamily
Sold 12/30/2022
SOLD
FPA Multifamily Acquires Multifamily Property In Bloomington, Minnesota For $32.8M
9900 Briar Road,Bloomington, Minnesota
See Similar DealsMultiFamily
Sold 12/30/2022
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,749,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$116,531.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$155,488.73
Annual Debt Service$1,865,864.81
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