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.
Players
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