LaSalle Investment Management Acquires Cavanagh Senior Apartments From Dominium Management For $26M

The Cavanagh Senior Apartments, located at 5401 51st Avenue North in Crystal, Minnesota, is a four-story senior housing property comprising 130 units. Recently sold for $26 million, the price per unit stands at $200,000. The property was constructed in 2015 and is associated with the Low-Income Housing Tax Credit Program.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $26,000,000
• Buyer: LaSalle Investment Management
• Seller: Dominium Management
• Units: 130
• Price Per Unit: $200,000
• Location: Crystal, MN

This transaction marks the second senior-focused deal between LaSalle Investment Management and Dominium Management within the Twin Cities metro region in the past week.