Vincent Cos Welltower Northstar Properties Acquire Senior Housing Portfolio For $65.1M In Minnesota

A trio of senior living properties located at 14344 Cameo Avenue, 2301 Village Lane, and 1745 West Graham Avenue in Rosemount, Bloomington, and Saint Paul, MN, were sold for a total of $65.1 million. The properties consist of 306 units with a price per unit of $212,745.

Summary of transation details:

• Property Type: Senior Housing
• Transaction Amount: $65,100,000
• Buyer: Vincent Cos., Welltower & Northstar Properties
• Seller: Senior Living Associates I, LLC, Axial Real Estate Advisors & Stonebridge Communities
• Units: 306
• Market: Rosemount, Bloomington & Saint Paul, MN
• Brokers: Dan Linnell, Mox Gunderson, Adam Haydon & Devon Dvorak - Colliers

The transaction involved Rosemount Senior Living at Steeple Center selling to Vincent Cos. for $24 million, Nine Mile Creek Living sold to Welltower Inc. for $24 million, and Graham Place Senior Apartments traded for $17.1 million from Stonebridge Communities to Northstar Properties as part of a long-term senior housing portfolio repositioning.