CHS Inc. Repurchases Office Building In Inver Grove Heights From Truist Financial
5500 Cenex Drive
$48,800,000
Building Size
—
Asset Type
Office
Closing
Mar 1, 2024
AI
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.
Players
Inver Grove Heights 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93