Curbline REIT Acquires The Village At Arbor Lakes In Maple Grove From The Doran Group For $28M

The property involved in this transaction is a retail asset located at 11700 Elm Creek Boulevard & 11740 Elm Creek Boulevard in Maple Grove, MN. The sale price for the property was $28,000,000, which reflects a price per unit of $218,750, with a total of 128 units included in the transaction.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $28,000,000
• Buyer: Curbline REIT
• Seller: The Doran Group
• Location: Maple Grove, MN
• Units: 128
• Price Per Unit: $218,750

The Doran Group, as the seller, sold The Village at Arbor Lakes shopping center to Curbline REIT, utilizing the proceeds to fund new active adult housing projects. This includes plans for a $40 million investment in a 128-unit 55+ community located in Hudson, Wisconsin.