CHICAGO — Specialty investment bank Ziegler has advised on the sale of a three-community senior living portfolio located in Minnesota. Ziegler acted as advisor to the seller, a nonprofit organization. Affiliates managed by Vista Senior Living Management acquired two of the properties. River Oaks of Minnesota Housing Services purchased the third property. Chicago-based Ziegler was engaged with the seller prior to the marketing of the portfolio, assisting in the strategic planning and evaluation process that led to the decision to sell. “The portfolio generated strong interest from a broad range of …
ROCHESTER, Minn. — BWE has secured financing for AVIVA River Bend, an assisted living and memory care community located in Rochester in southeastern Minnesota, on behalf of Lloyd Jones. Lloyd Jones acquired the property, which totals 89 units, in February 2022. The community was originally constructed in 2014. Ryan Stoll and Taylor Mokris of BWE led the new financing. “The team’s experience and vision for AVIVA River Bend, combined with the strength of the Rochester market, made this an attractive financing opportunity,” says Mokris.
BLAINE, Minn. — Crest View Senior Communities has sold Crest View Senior Community at Blaine, located in the city of Blaine, roughly 20 miles north of downtown Minneapolis. Catholic Eldercare acquired the property, which totals 164 units, for an undisclosed price. Catholic Eldercare will also assume management of Columbia Village, a Crest View-owned community in Columbia Heights, Minnesota, on behalf of Crest View. Catholic Eldercare’s portfolio now comprises eight communities in metro Minneapolis. Ziegler served as the financial advisor to Crest View in the transaction.
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.
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