The story was edited to reflect a correction that was published Monday, Aug. 24. A venture led by Sterling Real Estate Trust paid $52.5 million, or $195/sf, for Northland Plaza, a 296,000-square-foot office building in Bloomington, Minn. Sterling, a ...
Commercial Real Estate Direct Staff Report The $755 million CMBS debt against the Mall of America in Bloomington, Minn., is in the process of being retired through defeasance, according to a report on TreppWire. The property's owner, Triple Five Group, ...
89 percent occupied.
Minneapolis/St. Paul Business Journal A venture of Equity Group Investments, Gem Realty Capital Inc. and Perennial Investments and Advisors plans to offer for sale the 1.7 million-square-foot Normandale Lake Office Park in Bloomington, Minn. CBRE is said to be on ...
Minneapolis/St. Paul Business Journal FelCor Lodging Trust has sold the 218-room Embassy Suites Hotel Bloomington in Bloomington, Minn., for $24 million, or about $110,000/room. Chelsea Hospitality Partners bought the property at 2800 American Blvd. West, which includes 10,000 square feet ...
LNR Partners, acting as special servicer for Greenwich Capital Commercial Funding Corp., 2003-C2, sold the property. The CMBS trust took the property from Behringer Harvard in 2012 after foreclosing on a $25.5 million loan that it backed. LNR began servicing ...
The property backs $32 million of loans, including $18 million of defaulted debt that is securitized through JPMorgan Chase Commercial Mortgage Securities Trust, 2007-FL1. It also backs a $14 million subordinate note that is outside the trust.
Minneapolis/St. Paul Business Journal Accor Business & Leisure North America has sold the 282-room Hotel Sofitel Minneapolis in Bloomington, Minn., for $18.25 million, or about $64,716/room. Local developer Warren Beck bought the property, at 5601 West 78th St. It backs ...
90 percent occupied. The buyer raised $9.26 million from investors for the purchase. It also will use about $22 million of financing from JPMorgan Chase for the deal.
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