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John-Rijos
FloridaMinnesotaNews

John Rijos, Guy Geller to Assume New Leadership Roles at CPF Living Communities, Grace Management 

by Hayden Spiess

MAPLE GROVE, Minn. AND SARASOTA, Fla. — Effective Jan. 1, 2025, John Rijos and Guy Geller will assume new leadership roles with CPF Living Communities and Grace Management Inc. (GMI). Geller will take on the title of CEO of both organizations, with Rijos serving as founder and chairman. Rijos founded CPF Living Communities, a subsidiary of Chicago Pacific Founders (CPF), in 2014 and is also managing partner of CPF’s Healthcare Real Estate Fund.  Geller first joined CPF Living Communities and GMI in 2016. He previously served as chief operating officer and …

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Cottages at Aspen
AcquisitionsActive AdultMinnesotaNews

Podawiltz Sells 114-Unit Active Adult Community in Metro Minneapolis

by Hayden Spiess

OAKDALE, Minn. — Podawiltz Development Corp. has sold Cottages at Aspen, a 114-unit active adult community located in Oakdale, roughly 20 miles east of Minneapolis.  Built in 1991 and renovated in 2008, the property totals 99,600 square feet and features one- and two-bedroom townhomes, averaging 874 square feet, for residents age 55 and older. Amenities at the community include a library, ponds, walking areas and lawns.  Josh Talberg of JLL represented Podawiltz in the transaction, and Pat McMullen and Joseph Peris of JLL arranged acquisition financing for the undisclosed buyer.  The …

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FinanceMinnesotaNews

Berkadia Arranges Refinancing for 283-Unit The Pillars of Prospect Park in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Berkadia has arranged the refinancing of The Pillars of Prospect Park, a 283-unit seniors housing community in Minneapolis.  Austin Sacco and Steve Muth of Berkadia Seniors Housing & Healthcare secured bridge financing through a national bank on behalf of Harrison Street and Oppidan. The amount of the financing was not disclosed. The three-year bank loan features three years of interest-only payments. The property affords convenient access to downtown Minneapolis, the University of Minnesota Medical Center and Midland Hills Country Club. The Pillars of Prospect Park was built in …

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AcquisitionsCCRCMinnesotaNews

Blueprint Brokers Sale of 389-Unit Saint Therese of New Hope in Minnesota

by Jeff Shaw

NEW HOPE, Minn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Saint Therese of New Hope, a continuing care retirement community in New Hope, a suburb northwest of Minneapolis. The seller is Saint Therese, a Minnesota-based nonprofit that originally built the community. The campus originally opened to the community in 1967. Starting in 1979, the property underwent extensive senior living expansion and renovation projects over the years.  The community features 221 independent and assisted living units and 168 licensed skilled nursing beds, totaling 389 seniors housing and …

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AcquisitionsAffordable HousingMinnesotaNews

Standard Communities Acquires Rivertown Commons Affordable Community in Stillwater, Minnesota for $27.8M

by Jeff Shaw

STILLWATER, Minn. — Standard Communities has made its first investment in Minnesota, acquiring Rivertown Commons, a 96-unit affordable seniors housing community in Stillwater.  The transaction is capitalized at $27.8 million.  Stillwater is located along the St. Croix River separating Minnesota from Wisconsin, just east of the Twin Cities area. Standard completed the acquisition in partnership with the Washington County Community Development Agency and the Minnesota Housing Finance Agency (MHFA). Huntington Bank provided the tax credit equity. Standard will preserve and extend the affordability of Rivertown Commons, with resident income restricted to …

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Memory CareMinnesotaNewsPeople

Anthem Appoints Tiffany Bell as Executive Director of Community in Rochester, Minnesota

by Jeff Shaw

ROCHESTER, Minn. — Anthem Memory Care has promoted Tiffany Bell to executive director for Cascade Creek in Rochester, approximately 100 miles southeast of Minneapolis.  Bell most recently was life engagement director for Cascade Creek. Previously she was life enrichment director for Prairie Meadows Senior Living in Kasson.  The certified dementia practitioner brings over 23 years of senior living experience to this position. She received a bachelor’s degree in psychology with a minor in gerontology and family studies from University of Wisconsin-Eau Claire.

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AcquisitionsAssisted LivingMinnesotaNews

SLIB Negotiates Sale of 20-Unit Diamond Willow Assisted Living in Alexandria, Minnesota

by Jeff Shaw

ALEXANDRIA, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Diamond Willow Assisted Living & Memory Care, a 20-unit community in Alexandria, approximately 130 miles northwest of Minneapolis. Built in 2006, the 15,483-square-foot community sits on nearly three acres of land. A private equity firm divesting of a geographic outlier sold the asset to a nonprofit looking to expand in Minnesota. The price was not disclosed. Jason Punzel, Vince Viverito, Brad Goodsell and Jake Anderson led the transaction for SLIB.

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AcquisitionsAffordable HousingMinnesotaNews

JLL Arranges Sale of 96-Unit Rivertown Commons Affordable Community in Stillwater, Minnesota

by Jeff Shaw

STILLWATER, Minn. — JLL Capital Markets has arranged the sale and financing of Rivertown Commons, a 96-unit Section 8 affordable seniors housing community situated along the St. Croix River in Stillwater.  The seven-story building totals 55,800 square feet.  Josh Talberg and Doug Childers of JLL represented the seller, Dominium Management, and procured the buyer, an investment firm that specializes in affordable and workforce housing. The buyer plans to refresh the units and common areas in addition to extending the existing affordability restrictions.  C.W. Early, Ken Dayton and Pat McMullen of …

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Affordable HousingDevelopmentMinnesotaNews

Volunteers of America Completes 80-Unit Nolte River Place Affordable Community in Anoka, Minnesota

by Jeff Shaw

ANOKA, Minn. — Volunteers of America National Services has opened Nolte River Place, an affordable seniors housing development in Anoka, a suburb north of Minneapolis. The 80-unit community provides one- and two-bedroom units, eight units for formerly unhoused veterans and 10 designated units for Project Rental Assistance Contracts (PRAC) vouchers.  Nolte River Place is near the Rum River Trail, Northstar Line commuter rail and downtown Anoka.

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Active AdultAffordable HousingDevelopmentMinnesotaNews

Lupe Development Completes 200-Unit Wirth on the Woods Mixed-Income Community in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Lupe Development has opened Wirth on the Woods, a 200-unit mixed-income seniors housing community in the Bryn Mawr neighborhood of Minneapolis. The campus includes 100 units of affordable seniors housing in a six-story building (The Theodore) and 100 units of market-rate active adult housing (The Eloise) in a second six-story building. The development includes a new regional storm pond, outdoor classroom and play area for the adjacent Anwatin Middle and Bryn Mawr Elementary schools, as well as shared amenities for the senior campus. The affordable housing at The …

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