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 …
MINNETONKA, Minn. — Senior living developer, owner and operator New Perspective has acquired five communities in Minnesota. Each of the properties, all of which offer assisted living and memory care residences, is located within the Minneapolis-St. Paul metro. The communities will now be operated as New Perspective White Bear Lake, New Perspective Oakdale, New Perspective Golden Valley, New Perspective Rosedale and New Perspective Minnetonka. Amenities at the properties include communal spaces, wellness and recreational programs and chef-prepared meals.
ST. LOUIS PARK, Minn. — JLL Capital Markets has arranged a $42.9 million bridge loan for the refinancing of Risor of St. Louis Park, an active adult community located in St. Louis Park, roughly 10 miles outside downtown Minneapolis. Roers Cos. is the borrower. Completed in November 2023, the apartment community features 170 units reserved for residents ages 55 and older in studio, one-, two- and three-bedroom layouts. The property includes 18 affordable residences for income-restricted renters. Amenities at the community include a club room, golf simulator, movie theater, pool and …
MANKATO, Minn. — Colliers Mortgage has arranged a $24 million HUD loan for the refinancing of a senior living community located in Mankato. The Pillars of Mankato totals 118 units with assisted living and memory care residences. Amenities at the property include community and activity rooms, a library, salon and putting green. Sam Butler of Colliers secured the loan, which carries a 35-year amortization, on behalf of the borrower, Tunbridge Peak LLC.
NORTHFIELD, Minn. — Vivie has acquired Northfield Retirement Community in Northfield. Opened in 1969, the community offers a full continuum of care, including independent living, assisted living, memory care, skilled nursing and rehabilitation. Vivie’s portfolio comprises 34 communities, as well as several home health and hospice offices. In addition to its senior living communities, Vivie — formerly Knute Nelson and Walker Methodist — provides home health care, care management, rehabilitation and hospice across Minnesota, North Dakota and Wisconsin.
CHANHASSEN, Minn. — BWE has secured $20 million in permanent financing for Lake Place, an active adult community located in Chanhassen, roughly 20 miles outside Minneapolis. Silver Creek Equity, a Minnesota-based development company, is the borrower. Lundat Kassa of BWE originated the financing through Freddie Mac on behalf of the borrower. The loan features a 10-year term with a 35-year amortization period and five years of interest-only payments. Proceeds from the loan will be used to close out the existing high-interest floating rate construction financing. Built in 2023, Lake Place totals …
MINNEAPOLIS — Thorofare Capital, an affiliate of Callodine Group LLC, has provided a $42.9 million bridge loan for the refinancing of Risor of St. Louis, an active adult community located in Minneapolis. Roers Cos. is the borrower. Completed in November 2023, the community totals 170 units reserved for residents age 55 and older. The property was 78 percent occupied at the time of financing. Amenities at the community, which totals six stories and features 4,000 square feet of ground-floor retail space, include covered parking, a coffee bar, golf simulator, pet wash, …
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