Ernie Rose Acquires Office Building In Edina, MN For $4.3M
7807 Creekridge Circle
$4,300,000
$101/SF
Building Size
42,303 SF
Asset Type
Office
Closing
Oct 3, 2023
AI
Ernie Rose, a prominent Twin Cities golf teacher, has made a strategic move by purchasing a three-story office building at 7807 Creekridge Circle in Bloomington for $4.3 million. The property is an office asset with a total square footage of 42,303, resulting in a price per square foot of $102. The transaction took place in Edina, MN.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,300,000
- Address: 7807 Creekridge Circle, Bloomington, Edina, MN
- Market: Edina, MN
- Buyer: Ernie Rose
- Seller: Juno Investments LLC
- Buyer's Rep: Ryan Walsh - RadatzWalsh Inc Commercial Real Estate
- Seller's Rep: Matt Elder & Steve Shepherd - Newmark
- Square Footage: 42,303
- Price per Square Foot: $102
Ernie Rose's purchase of the three-story office building demonstrates a strategic decision in line with his prominent career as a Twin Cities golf teacher. The sale was facilitated by Ryan Walsh of RadatzWalsh Inc Commercial Real Estate, who represented Ernie Rose as the buyer's representative. The seller, Juno Investments LLC, was represented by Matt Elder and Steve Shepherd of Newmark. The acquisition of this office property marks a significant milestone for Ernie Rose in expanding his real estate portfolio.
Players
Minneapolis 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
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93