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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 JLL arranged acquisition financing through Freddie Mac.
The price and amount of financing were not disclosed.