Bridge Investment Group Acquires Office Building In Hopkins, Minn For $82.5M
SOLD
$82,500,000
Minnesota
See Similar DealsOffice508,590 SF
Sold 02/15/2022
SOLD
Bridge Investment Group Acquires Office Building In Hopkins, Minn For $82.5M
9350 Excelsior Boulevard, Hopkins, Minnesota 55343, United States
See Similar DealsOffice508,590 SF
Sold 02/15/2022
Summary
MINNESOTA
Asset Type:Office
Price Per Square Foot:$162
Total Square Footage:508,590 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,399,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$293,105.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$391,092.09
Annual Debt Service$4,693,105.07
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