LTC REIT Acquires 120-Unit Round Lake Senior Living In Arden Hills For $48.1M

The property asset involved in this transaction is the 120-unit Round Lake Senior Living community located at 1740 Parkshore Drive, Arden Hills, Minnesota. It features various living arrangements including independent living, assisted living, memory care, and enhanced care units. The sale was finalized for $48.1 million, equating to an approximate price per unit of $400,833. The property was opened in 2023.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $48,100,000
• Units: 120
• Price per Unit: $400,833
• Seller: Trident Development
• Broker: Vincent Cos.
• Buyer: LTC REIT
• Location: Arden Hills, MN
• Acquisition Date: 08/05/2026
• LTC REIT’s first acquisition in Minnesota

The deal was brokered by Vincent Cos., representing Trident Development, who sold the property to California-based LTC REIT as part of a 1031 exchange. This acquisition signifies LTC REIT's expansion into new markets within the senior housing sector.