Prelude Homes & Services Acquires Senior Housing Portfolio From CareTrust REIT For $14M

The transaction involves the sale of two memory care cottages located at 4650 White Bear Parkway and 10018 Raleigh Road, situated in the markets of White Bear Lake and Woodbury, Minnesota. The sale price reached $14,000,000 for the 62-unit portfolio, translating to a price per unit of $225,806. Prelude Homes & Services has acquired these properties from CareTrust REIT, continuing its operational ownership of facilities it has managed for over a decade.

Summary of transaction details:

• Property Type: Senior Housing & Self Storage
• Transaction Amount: $14,000,000
• Buyer: Prelude Homes & Services
• Seller: CareTrust REIT
• Units: 62
• Price Per Unit: $225,806
• Sale Date: 11/11/2025
• Market: White Bear Lake & Woodbury, MN

This acquisition enables Prelude Homes & Services to consolidate ownership of the properties and expand its enhanced care assisted living program, serving nearly 300 residents across its campuses. The deal underscores Prelude's commitment to continuing its long-standing presence in the area and enhancing its care offerings.