Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC (“Inland Acquisitions”) announced today that it negotiated and closed the purchase of two luxury senior living communities located in the Twin Cities metropolitan statistical area. Matthew Tice, senior vice president of Inland Acquisitions, with assistance from David Neboyskey, VP and associate counsel of The Inland Real Estate Group, LLC, Law Department, completed the transaction on behalf of an Inland affiliate.
“We believe the Twin Cities metro area has strong fundamentals to support the senior living space, and both of these properties – located in Lakeville and Savage – offer vibrant senior living options for residents,” said Tice. “By engaging The Waters Senior Living team to manage both of these properties, we believe we will continue to achieve the high caliber of performance that all of our Twin Cities properties maintain. The properties’ combination of high quality amenities, care and renowned reputation as the best 55+ communities in the area underscores the types of senior living properties we continue to seek for acquisition.”
Kingsley Shores Independent Senior Living (“Kingsley Shores”) in Lakeville, Minnesota, is a 156-unit community located at 16880 Klamath Trail. The property features three floors of 101 independent living, assisted living, assisted living plus and memory care units for its residents. The community also features a variety of social amenities including elegant fine dining, a library, a fully staffed wellness center, a warm-water pool, salon and spa, rooftop veranda, theater room, heated enclosed parking, scheduled transportation, on-site social activities and educational programs. Kingsley Place, an active-adult community with 55 units, was also acquired as a part of Kingsley Shores.
Savage Senior Living at Fen Pointe in Savage, Minnesota, is located at 5950 W. 130th Lane. The property is comprised of 122 units across four floors and includes a mix of independent living, assisted living, assisted living plus and memory care units for residents. Residents enjoy community amenities including a dining room, library, fitness center, private clinic space for visiting wellness practitioners, community gardens, a salon and barber shop, a theater room, a chapel, art studio, coffee bar and bistro, an enhanced seasonal porch and walking paths.
Kingsley Shores and Savage Senior Living were both 95 percent occupied at closing.
Since inception, Inland Acquisitions has facilitated more than $55 billion of purchases across all asset types, with a more recent focus on senior living, student housing, multifamily, self-storage and manufactured housing communities.
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About Inland Real Estate Acquisitions, LLC
Inland Real Estate Acquisitions, LLC assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are a part of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups, which is comprised of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and managed by such entities or subsidiaries thereof (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.
