Syndicated Equities Acquires Office Property In Minnetonka From Buhl Investors For $23 Million
10900 Red Circle Drive
$23,000,000
$219/SF
Building Size
104,647 SF
Asset Type
Office
Closing
Oct 23, 2025
About this deal
AI
Syndicated Equities acquired an office asset located at 10900 Red Circle Drive in Minnetonka, MN for $23 million. The property encompasses 104,647 square feet and was sold at a price per square foot of $220.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $23,000,000
- Address: 10900 Red Circle Drive
- Market: Minnetonka, MN
- Seller: Buhl Investors
- Buyer: Syndicated Equities
- Broker: Colin Ryan - JLL
- Square Footage: 104,647
- Price per Square Foot: $220
Buhl Investors sold the property after undergoing renovation and achieving full lease-up to Legrand AV, following their acquisition of the asset for $6.5 million in 2022. The deal was brokered by Colin Ryan from JLL, reflecting a strategic move within the Opus Business Park sector.
Players
Hopkins Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93