Newly formed Twin Light Capital completed the acquisition of 11 seniors housing communities and two development sites in Minnesota. The existing properties have 291 units with 398 licensed beds, and the two development sites have a total of 22.7 acres in Duluth and Fergus Falls.
The acquired portfolio includes the Keystone Bluffs assisted living community in Duluth plus 10 Diamond Willow assisted living and memory care communities located throughout the state. The markets these communities are located in have a higher percentage of the elderly than the state as a whole. Full Circle Senior Living will continue to operate the portfolio for Twin Light. Sam Dendrinos and Kloie McCann of CIBC Bank USA provided the mortgage financing, and Jacob Gehl and Humair Sabir of Blueprint Healthcare Real Estate Advisors handled the sale on behalf of the seller.