JLL Capital Markets arranged the sale of Boulder Ponds Senior Living and Round Lake Senior Living, a 216-unit portfolio of Class-A 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 affluent and growing 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. Situated within the Twin Cities’ rapidly expanding eastern corridor, the community features high-end finishes, resort-style amenities and a design tailored to the area’s affluent demographic profile. The property has demonstrated strong operating performance and stability, maintaining approximately 98% occupancy. This community’s sale reflects the highest price per unit trade of a senior housing asset in Minnesota.
Round Lake Senior Living, which opened in 2023, is a 121-unit community in Arden Hills at 1740 Parkshore Dr, an affluent Minneapolis-St. Paul suburb. Positioned along the shores of Round Lake, the community benefits from convenient access to major employment centers, retail amenities and healthcare services. Residents enjoy an extensive amenity package, including multiple dining venues, a library, art room, heated underground parking and thoughtfully designed outdoor gathering spaces.
