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1750 County Highway 96

Trident Development Acquires 10 Acres In Arden Hills From North Heights Lutheran Church For $2.25M
SOLDSenior Housing

Trident Development Acquires 10 Acres In Arden Hills From North Heights Lutheran Church For $2.25M

1750 County Highway 96

$2,250,000

Units

119

Asset Type

Senior Housing

Closing

Jul 8, 2026

AI

The transaction involves the sale of a senior housing asset located at 1750 County Highway 96 in Arden Hills, MN. The property spans 10 acres and has a total of 119 units, with a per unit price of $18,908. The sale price for the asset was $2,250,000. Construction for the development is slated to commence next week.

Summary of transaction details:

  • Property Type: Senior Housing
  • Transaction Amount: $2,250,000
  • Units: 119
  • Per Unit Price: $18,908
  • Market: Arden Hills, MN
  • Seller: North Heights Lutheran Church
  • Buyer: Trident Development
  • Construction By: Lyon Contracting
  • Target Completion: Summer or Fall 2027

North Heights Lutheran Church sold the 10 acres of its Arden Hills campus to Trident Development, facilitating the establishment of the 119-unit Platinum 55 Apartments, a market-rate senior housing community. The construction is expected to begin shortly and aims for completion within the next two years.

Players

TD
Trident DevelopmentBuyer
NC
North Heights Lutheran ChurchSeller

Hills Senior Housing Market Snapshot

Boundary boundary ยท Senior Housing ยท Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.05%

Cash-on-Cash

-2.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93