Senior Living Investment Brokerage was engaged by a Minneapolis-based, repeat client in the disposition of its last assisted living community that is in “very good condition.” The seller is divesting to focus on its remaining active adult and multifamily portfolio. Built in 2013, the community is in St. Anthony, Minnesota (Minneapolis-St. Paul MSA), with 73 units and high-end amenities. It was 74% occupied, generating $4.15 million of revenues.
SLIB structured the marketing process around the seller’s desire to transfer ownership to another respected owner/operator that would continue the high standard of care for residents and support the seller’s associates. The ultimate buyer was a real estate development and investment firm looking to grow its existing presence in Minnesota and expand its relationship with an existing operating partner. Jeff Binder, Jason Punzel and Jake Anderson handled the transaction.
