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COON RAPIDS, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Homestead at Coon Rapids, a 53-unit assisted living and memory care community in Coon Rapids, a northern suburb of Minneapolis.
Built in 1999, The Homestead at Coon Rapids features 29 assisted living units 24 memory care units. The property totals 31,195 square feet on approximately three acres of land.
The seller is a large, national nonprofit looking to condense its portfolio to focus on core communities. The buyer is an in-state owner partnering with an in-state operator looking to grow its footprint in Minnesota. The price was not disclosed.
Jason Punzel, Brad Clousing and Jake Anderson of SLIB handled the transaction.