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MANKATO, Minn. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of The Pillars of Mankato, a 118-unit seniors housing community in Mankato, approximately 75 miles southwest of Minneapolis.
The community consists of 98 independent and assisted living units alongside 20 memory care units. It was built in 2019 and totals 146,138 square feet on approximately 3.9 acres of land.
The undisclosed seller sought funding for continued investments in seniors housing. The buyer is an out-of-state private equity group that will be partnering with the in-place operator to run the community. The price was not disclosed.
Jason Punzel, Jake Anderson, Brad Goodsell and Vince Viverito of SLIB handled the transaction.