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ST. PAUL, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Alton, a 65-unit memory care community in St. Paul.
The community was built in 2008. It totals 52,516 square feet on approximately 0.88 acres of land.
The seller was a multifamily owner/developer looking to focus on its market-rate portfolio.
The buyer was an experienced home health operator in the Minnesota market looking to grow its presence in traditional senior living real estate investments. The price was not disclosed.
Jason Punzel, Jake Anderson, Brad Goodsell and Vince Viverito of SLIB handled the transaction.