Senior Living Investment Brokerage closed the sale of an independent and assisted living facility in Anoka, Minnesota, about 20 miles northeast of Minneapolis.
Built in 1988, the facility consists of 84 units and 104 beds. It is about 90,000 square feet and sits on 1.7 acres of land.
The seller is a real estate development company that focuses on multifamily and wanted to divest River Oaks to concentrate on its core assets. The buyer is a non-profit headquartered in Minnesota. The buyer plans to refresh and rebrand the community.
Jeff Binder, Jason Punzel and Jake Anderson of Senior Living Investment Brokerage handled the transaction.