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Inland Real Estate Group Acquires Senior Housing Property In Edina For $41M
SOLD
$41,000,000
Minnesota
See Similar DealsSenior Housing
Sold 10/16/2023
SOLD
Inland Real Estate Group Acquires Senior Housing Property In Edina For $41M
6300 Colonial Way
See Similar DealsSenior Housing
Sold 10/16/2023
Summary
MINNESOTA
Asset Type:Senior Housing
Transaction Type:Sale
The Waters Senior Living of Edina, a senior housing facility located at 6300 Colonial Way in Edina, was recently sold for over $41 million. The property consists of 139 units, with an average price per unit of $294,964.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $41,000,000
- Address: 6300 Colonial Way
- Market: Edina
- Buyer: Inland Real Estate Group of Companies - Daniel L. Goodwin
- Seller: Prudential Private Capital - Jeffrey Dickson
The buyer of the property is the Inland Real Estate Group of Companies, represented by Daniel L. Goodwin. The seller is Prudential Private Capital, represented by Jeffrey Dickson. Despite the change in ownership, the day-to-day operations at the facility will remain the same.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,186,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$145,664.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$194,360.92
Annual Debt Service$2,332,331.01
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