Bridge Investment Group Acquires Office Building In Hopkins, Minn For $82.5M
9350 Excelsior Boulevard, Hopkins, Minnesota 55343, United States
$82,500,000
$162/SF
Building Size
508,590 SF
Asset Type
Office
Closing
Feb 14, 2022
AI
The office property located at 9350 & 9380 Excelsior Blvd. in Hopkins, Minn has been sold for a price of $82,500,000. The property measures 508,590 square feet, resulting in a price per square foot of $162. The transaction took place on February 15, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $82,500,000
- Address: 9350 & 9380 Excelsior Blvd., Hopkins, Minn
- Market: Hopkins, Minn
The buyer of the property is Bridge Investment Group, represented by Robert Morse & Jonathan Slager. The seller in this transaction is DigitalBridge Group Inc.
Players
Hopkins Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93