MINNEAPOLIS, PLYMOUTH and EDINA, Minn. — JLL Capital Markets it arranged the acquisition financing for three independent living, assisted living and memory care communities in the greater Minneapolis-St. Paul metro.
JLL represented the borrower, an affiliate of The Inland Real Estate Group of Companies. The Waters Senior Living will continue to manage the communities for Inland and this transaction expands their relationship to four communities together.
The portfolio comprises The Waters of Edina in Edina, The Waters of Plymouth in Plymouth and The Waters on 50th in Minneapolis. The three properties consist of 321 units total, with 223 dedicated to independent living/assisted living and 98 to memory care. The properties were all constructed in the past 10 years.
Jay Wagner, Rick Swartz, Aaron Rosenzweig, Sam Dylag, Jack Griffin, Jeff Lepley, Alex Sheaffer and Elliott Throne led the JLL Senior Housing Capital Markets team. The amount of the financing was not disclosed.