Monarch Healthcare Management Sells 36-Unit Assisted Living Facility In Faribault For $6.5M

The transaction involved a multifamily asset located at 41 Brand Avenue in Faribault, MN. The property comprises 36 units and spans 4.8 acres, offering a total of 44,300 square feet of space. The sale price was $6,500,000, equating to a price per unit of $180,556. The facility primarily serves Medicaid residents and includes one- and two-bedroom units along with a vacant skilled nursing home attached.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,500,000
• Address: 41 Brand Avenue
• Market: Faribault, MN
• Acres: 4.8
• Units: 36
• Price Per Unit: $180,556
• Seller: Monarch Healthcare Management
• Broker: Ray Giannini - Marcus & Millichap

Marcus & Millichap represented the seller, Monarch Healthcare Management, in the sale of Pleasant View Estates, an assisted living and memory care facility. The property was built in 1998 and serves a specific market segment focused on Medicaid residents.