Lee & Associates’ Senior Housing team, led by Robert Black, represented a Scottsdale, Arizona-based developer in the sale of a Class-A seniors housing community in Saint Paul, Minnesota. Developed by the seller in 2019, the building features 101 independent living, assisted living and memory care units.
There was strong interest in the asset, generating multiple competitive offers. A publicly traded healthcare REIT emerged as the ultimate buyer, acquiring the fully stabilized community for $28 million, or $277,200 per unit.
