JLL Arranges Sale of Two Twin Cities Seniors Housing Properties
JLL has arranged the sale of Boulder Ponds Senior Living and Round Lake Senior Living, a 216-unit portfolio of seniors housing communities located in Lake Elmo and Arden Hills, Minnesota.
JLL’s Seniors Housing Capital Markets team represented the seller, Trident Development, in the transaction and secured the buyer, LTC Properties, Inc. Lifespark will remain the operator of both communities.
Developed by Trident Development, the portfolio comprises two purpose-built communities strategically located within the Twin Cities submarkets. Both communities offer independent living, assisted living and memory care services.
Boulder Ponds Senior Living, completed in 2020, is a 95-unit community in Lake Elmo located at 192 Jade Trail N. The property has demonstrated strong operating performance and stability, maintaining approximately 98% occupancy. Round Lake Senior Living, which opened in 2023, is a 121-unit community in Arden Hills at 1740 Parkshore Dr. The community benefits from convenient access to major employment centers, retail amenities and healthcare services.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout