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JLL arranges sale of 216-unit Twin Cities seniors housing portfolio
JLL represented Trident Development as the seller and secured LTC Properties as the buyer, with Lifespark remaining the operator.
JLL arranged the sale of two Twin Cities seniors housing communities, Boulder Ponds Senior Living and Round Lake Senior Living, forming a 216-unit portfolio in Lake Elmo and Arden Hills, Minnesota. ConnectCRE said the transaction was handled by JLL’s Seniors Housing Capital Markets team.
JLL represented the seller, Trident Development, and secured the buyer, LTC Properties, Inc. Lifespark will remain the operator of both communities, according to ConnectCRE.
Boulder Ponds Senior Living was completed in 2020 and has 95 units at 192 Jade Trail N. ConnectCRE reported the property has maintained approximately 98% occupancy.
Round Lake Senior Living opened in 2023 and includes 121 units at 1740 Parkshore Dr in Arden Hills. The communities provide independent living, assisted living, and memory care services, ConnectCRE added.