Updated Aug 5, 2026
SOLDSenior Housing
Gregory Goodman Acquires 118-Unit Senior Housing Community In Mankato For $54 Million
3125 Prairie Rose Drive
$54,000,000
Units
118
Asset Type
Senior Housing
Closing
Aug 4, 2026
About this deal
AI
The property involved in this transaction is a senior housing community located at 3125 Prairie Rose Drive in Mankato, Minnesota. The asset type is senior housing, consisting of 118 units. The sale price of the property is $54,000,000, which equates to approximately $457,627 per unit.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $54,000,000
- Units: 118
- Price Per Unit: $457,627
- Seller: Pillars of Mankato LLC
- Buyer: Gregory Goodman - Goodman
- Date of Sale: 08/04/2026
- Market: Mankato, MN
Gregory Goodman, representing Goodman, acquired the senior living community from Pillars of Mankato LLC. This transaction was completed as part of a 1031 exchange, indicating a strategic expansion of Goodman's portfolio in Minnesota. The deal is notable for its high valuation, reflecting significant market activity in the state’s senior housing sector.
On the Map
$54,000,000
Senior Housing
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Mankato Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93