MINNEAPOLIS — Greystone has provided a $46.7 million bridge-to-HUD loan for the refinancing of a seniors housing portfolio located in metro Minneapolis. Totaling 153 beds across five properties, the portfolio features 97 assisted living and 56 memory care beds. David Young of Greystone originated the financing, which features a 24-month term with two six-month extension options. Chris Clare, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher of Greystone assisted on the transaction.
LAKEVILLE, Minn. — Berkadia has arranged the sale and financing of The Pillars of Lakeville, a senior living community located in Lakeville, a suburb situated roughly 25 miles south of downtown Minneapolis. Totaling 100 units, the property features independent living, assisted living and memory care. Amenities at the community include a fitness center, wellness programs, heated underground parking, a salon and spa, game room and pickleball court. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia represented the seller, a joint venture between Harrison Street Asset Management and Oppidan …
CORCORAN, Minn. — United Properties has broken ground on a new active adult community in Corcoran, roughly 22 miles northwest of downtown Minneapolis. Upon completion, the development, Amira Corcoran, will feature 143 units for residents age 55 and older. Residences will include apartments in one-, two- and three-bedroom floorplans. Planned amenities include a club room, fitness and yoga spaces, an arts-and-crafts studio, golf simulator lounge, secure parking, walking trails, and a swimming pool and hot tub situated on an outdoor amenity patio. Move-ins at the community, which will be operated by …
BLOOMINGTON and FRIDLEY, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a seniors housing portfolio totaling 229 units in Minnesota. The portfolio includes Nine Mile Creek Senior Living in Bloomington and Willows Bend Senior Living in Fridley. Together, the buildings comprise 304,258 square feet and feature independent living, assisted living and memory care residences. A national REIT acquired the communities from a partnership of regional developers for an undisclosed price. Jake Anderson, Jason Punzel, Vince Viverito and Taylor Graham of SLIB brokered the transaction. “The Twin Cities …
PELICAN RAPIDS, Minn. — Non-profit Pelican Valley Senior Living, a senior living provider in Pelican Rapids in western Minnesota, has broken ground on an $8.4 million modernization project at its campus, which features a skilled nursing center, as well as assisted living and memory care communities. Phase I of the project will renovate part of a former hospital wing to serve as temporary resident housing during construction. The second phase will redevelop 14 resident rooms and expand community areas including dining, therapy, chapel and social spaces. Wold Architects & Engineers is …
BLOOMINGTON, Minn. — Verdot Capital has sold Hayden Grove Bloomington, a 166-unit seniors housing community located in Bloomington, a suburb of Minneapolis. An undisclosed buyer acquired the property. JLL Capital Markets brokered the transaction on behalf of the seller. Constructed in 2021, Hayden Grove Bloomington features a four-story building with a full continuum of care. Amenities at the community include underground parking, a private dining room, bistro, coffee lounge, game room, party room, theater, event center, library, craft room, fitness program, beauty salon and community rooms. The operator, Great Lakes Management, …
HOPKINS and ROCHESTER, Minn. — Blueprint has arranged the sale of a skilled nursing portfolio located in Hopkins and Rochester. Totaling 230 units, the portfolio comprises two properties. A publicly traded REIT was the seller. Connor Doherty, Ryan Kelly, Amy Sitzman, Giancarlo Riso and Will Roberts of Blueprint brokered the transaction on behalf of the seller. According to Blueprint, the properties were classified as “distressed” at the time of sale. The buyer plans to leverage their existing infrastructure, clinical resources and local market expertise to achieve stabilized performance at the facilities.
MINNEAPOLIS — Oppidan Investment Co. has sold a senior living community located in Minneapolis for $140 million, according to a recently published certificate of real estate value. Ventas, doing business as VLSHRE PILLARS LLC, was the buyer. Oppidan originally opened the community, The Pillars of Prospect Park, in May 2020. Situated with proximity to the University of Minnesota campus, the property totals 283 apartments, including 133 independent living, 106 assisted living and 44 memory care units. Amenities at the community include an onsite bistro, salon spa, chapel, fitness center, golf simulator …
PINE ISLAND, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities located in Pine Island. A regional operator acquired both properties, which include Pine Haven and Evergreen Place Assisted Living. Pine Haven, which was originally constructed in 1964 and renovated in 2016, is a 70-bed skilled nursing facility. Featuring 24 assisted living units, Evergreen Place was built in 1995 and is connected to Pine Haven. The USDA sold Pine Haven, and the seller of Evergreen Place was the City of Pine Island. Jake Anderson, …
PLYMOUTH, Minn. — Construction firm Kraus-Anderson has completed the second phase of a $41.8 million expansion at Trillium Woods, a senior living community located in Plymouth. Designed by Pope Design Group, the expansion totals 160,321 square feet across five stories and adds 18 assisted living units, 16 memory care units, 52 independent units and 67 underground parking spaces. Construction on the project began in April 2024. Amenities at Trillium Woods include an indoor pool, salon, day spa, fitness center, pub, café, pickleball court, library, auditorium, art studio and guest suites. Life …
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