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ST. PAUL, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Wellington, a 120-unit independent living and assisted living community in St. Paul.
The community was built in 1985 and encompasses 124,468 square feet on 1.7 acres.
The seller was a multifamily owner/developer looking to focus on its market-rate portfolio. The buyer was a large seniors housing nonprofit looking to expand its footprint in Minnesota. The price was not disclosed.
The buyer plans to convert the building to all independent living.
Jason Punzel and Jake Anderson of SLIB handled the transaction.