Amrit Chase Of First Washington Realty Acquires Two Retail Centers For $65 Million
4335 Pheasant Ridge Drive Northeast & 840 Missouri Highway 291
$65,000,000
$94/SF
Building Size
345,493 SF
Asset Type
Retail
Closing
Sep 18, 2026
About this deal
AI
First Washington Realty has purchased two grocery-anchored shopping centers: the Village of Blaine located at 4335 Pheasant Ridge Drive Northeast in Blaine, MN, and Liberty Corners located at 840 Missouri Highway 291 in Liberty, MO. The overall transaction amounted to $65,000,000, encompassing a total of 345,493 square feet across both properties, with a price per square foot of $188.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $65,000,000
- Buyer: Amrit Chase
- Buyer's Agency: First Washington Realty
- Square Footage: 345,493
- Market: Blaine, MN & Liberty, MO
- Sale Price per Square Foot: $188
The acquisition by Amrit Chase of First Washington Realty includes the 220,685-square-foot Village of Blaine and the 124,808-square-foot Liberty Corners. These shopping centers are strategically located in growing suburban areas recognized for their established consumer traffic.
On the Map
$65,000,000
$94/SF
Retail
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Minneapolis Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93