Obra Real Estate And Green Pine Real Estate Provide $38M Loan For Washington Square Portfolio In Minneapolis
FINANCED
$38,000,000
Minnesota
See Similar DealsOffice745,666 SF
Financed 10/23/2025
FINANCED
Obra Real Estate And Green Pine Real Estate Provide $38M Loan For Washington Square Portfolio In Minneapolis
100 Washington Avenue South, 111 Washington Avenue South & 25 North 1st Street
See Similar DealsOffice745,666 SF
Financed 10/23/2025
Summary
MINNESOTA
Asset Type:Office
Price Per Square Foot:$51
Total Square Footage:745,666 SF
Transaction Type:Loan
The Washington Square Portfolio consists of two Class-A office towers with a total of 745,666 rentable square feet and a stand-alone 870-stall parking structure located at 100 Washington Avenue South, 111 Washington Avenue South, and 25 North 1st Street in downtown Minneapolis.
Summary of transaction details:
- Property Type: Office & Parking
- Transaction Amount: $38,000,000
- Lender: Obra Real Estate & Green Pine Real Estate
- Landlord: Pioneer Acquisitions
- Loan Type: Acquisition
- Date: 10/23/2025
Obra Real Estate and Green Pine Real Estate structured an A/B Note structure for this transaction, specifically for the Washington Square Portfolio.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,000,000.00
Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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