SLIB Negotiates Sale of 338-Bed Portfolio in Minnesota

by Jeff Shaw

SLEEPY EYE and MAPLEWOOD, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Minnesota totaling 338 beds.

The two campuses are named Sleepy Eye Care Center and Maplewood Care Center. Maplewood is an eastern suburb of Minneapolis, while Sleepy Eye is approximately 100 miles to the southwest.

Sleepy Eye consists of 128 beds and was built in 1972 and 1986. The Maplewood campus consists of 149 beds and 61 units and was built in 1970 and 1995. The properties combined total 194,049 square feet on approximately 9.5 acres of land.

The seller is a national nonprofit looking to condense its portfolio to focus on core communities. The buyer is an in-state owner-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.

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