CBRE has arranged the sale and acquisition financing for a 220,244-square-foot industrial portfolio featuring four properties across the greater Twin Cities metropolitan area. An undisclosed buyer purchased the portfolio from Big River Real Estate for $25.225 million.
CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan and Michael Caprile represented the seller in the transaction. CBRE’s Billy Mork and Mike Vannelli of CBRE Capital Markets’ Debt and Structured Finance team in Minneapolis secured the five-year, fixed-rate, full-term interest-only $15 million loan on behalf of the buyer.
“The buyer is a new investor to the Twin Cities metro, a common theme we’ve seen with industrial offerings over the past several months. Minneapolis continues to be a top target for national industrial investors,” said Smith.
The portfolio includes properties at 1971 Seneca Road in Eagan, Minnesota, 1420-1464 Cliff Road in Burnsville, Minnesota, 3830 Cheatham Ave. in Minneapolis, and 1441 First Ave. NW in New Brighton, Minnesota.
The post CBRE Arranges Sale, Financing for 220K-SF Midwest Industrial Portfolio appeared first on Connect CRE.