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CHANHASSEN, Minn. — JLL Capital Markets has negotiated the $5.5 million sale of Olive Branch Estates in Chanhassen, a suburb of Minneapolis.
The 24-unit, 28-bed memory care facility was constructed in 2015. The one-story property sits on 4.6 acres.
John Klement of JLL represented the seller, a private owner and operator. The buyer, a limited liability company, has retained Elysian Senior Homes to operate the community. The sales price represents a capitalization rate of 8.75 percent.