Redline Property Partners Acquires Historic 15 Building In Minneapolis From Goldman Sachs & R2 Companies
15 South 5th Street
Building Size
—
Asset Type
Office
Closing
Jul 15, 2026
About this deal
AI
The property involved in the transaction is the historic 15 Building located at 15 South 5th Street in Minneapolis, MN. This office asset, built in 1916, is known for its Bob Dylan mural and has been acquired by Redline Property Partners. The property was previously owned by Goldman Sachs & R2 Companies and will be managed by CBRE for leasing purposes.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Buyer: Redline Property Partners
- Seller: Goldman Sachs & R2 Companies
- Brokers: Harrison Wagenseil & Ryan Watts - CBRE
- Market: Minneapolis, MN
- Address: 15 South 5th Street
Redline Property Partners plans to rebrand the asset as Studio 15. Despite the previous marketing efforts highlighting its conversion potential, no redevelopment plans have been disclosed by the new owner.
Players
Adams 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93