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CHS Inc. Repurchases Office Building In Inver Grove Heights From Truist Financial
SOLD
$48,800,000
Minnesota
See Similar DealsOffice
Sold 03/01/2024
SOLD
CHS Inc. Repurchases Office Building In Inver Grove Heights From Truist Financial
5500 Cenex Drive
See Similar DealsOffice
Sold 03/01/2024
Summary
MINNESOTA
Asset Type:Office
Transaction Type:Sale
An office building located at 5500 Cenex Drive in Inver Grove Heights, MN, was recently involved in a transaction. The property, classified as a class B office space, was sold by Truist Financial to CHS Inc. for $48.8 million.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $48,800,000
- Address: 5500 Cenex Drive
- Market: Inver Grove Heights, MN
- Buyer: Jay Debertin - CHS Inc.
- Seller: Truist Financial
- Broker: Jim Vos - Cresa
CHS Inc. has repurchased the office building mentioned above for $48.8 million, six years after originally selling it in a sale-leaseback deal. The property was initially sold for $55 million to SunTrust Robinson Humphrey, which later became Truist Financial. The recent transaction took place at a price $6 million lower than the original selling price.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,602,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$173,376.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$231,336.90
Annual Debt Service$2,776,042.76
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