Loan amount
$9,600,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$21,000,000 {PP:$12,000,000}
LTV
46% {LTV}
Property type
Other Commercial
Borrower Details
Credit score
660
Deal experience
6 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Minneapolis
State
Minnesota
Loan Details
Purchase price
$12,000,000
Down payment
$2,400,000
Additional Loan Information
This proposal presents a compelling acquisition and repositioning opportunity for a 201,511-rentable-square-foot Class B multi-tenant office asset situated in the Gateway District of the Minneapolis Central Business District (CBD). The Sponsor is seeking to acquire the property at a purchase price of $12,000,000 — representing a significant discount to replacement cost — and execute a disciplined value-add strategy anchored by three programmatic components: a Technology & Innovation Center, a Skilled Trades Training Program powered by the Interplay Academy curriculum, and a hybrid co-workspace ecosystem.
The asset currently operates at approximately 41.64% occupancy, generating a stabilized annualized revenue estimate of approximately $2,048,389, anchored by a diversified mix of government, institutional, and professional services tenants. The 117,606 square feet of existing vacancy, paired with below-market in-place rents averaging $11.43/SF/year versus competing CBD product at $20.00+/SF, creates an exceptional runway for revenue growth without dependence on speculative assumptions
Status
Created
August 5, 2026 - 7:07am

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