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North Dakota

AcquisitionsNewsNorth DakotaWisconsin

Meridian Arranges Sale of Three-Property, 428-Unit Portfolio in Wisconsin, North Dakota 

by Jeff Shaw

WISCONSIN and NORTH DAKOTA — Meridian Capital Group’s senior housing and healthcare team has negotiated the sale of a three-property senior living portfolio in Wisconsin and North Dakota. The seller was Harrison Street. The buyer and price were not disclosed. New Perspective Senior Living will continue to operate the properties. The three assets offer a combined 146 independent living units, 139 assisted living units and 143 memory care bed. Ari Adlerstein, Josh Simpson and Jesse Rauch led the Meridian team.

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AcquisitionsAffordable HousingDevelopmentFinanceNewsNorth Dakota

Colliers Mortgage Provides $10.9M HUD Loan for Portfolio in Grand Forks, North Dakota

by Jeff Shaw

GRAND FORKS, N.D. — Karen Dubrosky and Frank Hogan of the Minneapolis office of Colliers Mortgage and Colliers Securities, respectively, have closed a $10.9 million HUD loan for the acquisition and rehabilitation affordable housing portfolio in Grand Forks. Located near the Red River, which forms the border between Minnesota and North Dakota, the portfolio totals 182 units of affordable housing across three properties. University Square includes 60 multifamily units, Columbia Square East includes 50 seniors housing units and Columbia Square South includes 72 multifamily units. All units are covered by …

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FinanceNewsNorth DakotaSkilled Nursing

Preston Hollow Community Capital Arranges $78M Bond Financing for Skilled Nursing Facility in Bismarck, North Dakota

by Jeff Shaw

BISMARCK, N.D. — Dallas-based Preston Hollow Community Capital (PHCC) has arranged a $78 million, tax-exempt bond transaction for a skilled nursing facility in Bismarck. The borrower is Missouri Slope Lutheran Care Center, which built the property on its existing campus. The bonds were issued through Burleigh County. Colliers Securities underwrote the bonds. The bonds will provide permanent financing for the 192-bed facility. Missouri Slope undertook the project nearly eight years ago following a strategic planning session that identified the need for more private rooms, better parking and additional community services …

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