Sam Butler of the Fort Worth office of Colliers Mortgage closed a $24 million HUD loan for the refinance of The Pillars of Mankato in Mankato, Minnesota. Built in 2019, the community features 118 units across 146,138 square feet on 3.9 acres. There are 98 independent and assisted living units plus 20 memory care units.
According to LevinPro LTC, The Pillars of Mankato was acquired at the end of 2023 by Tunbridge Peak LLC, an out-of-state real estate investment firm affiliated with Peak Capital Partners, that partnered with the in-place operator to manage the community. Jason Punzel, Jake Anderson, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the 2023 transaction. Today’s HUD loan, closed by Colliers, carries a 35-year term/amortization.
