Verdot Capital Sells Senior Community in Twin Cities
The community will retain its property management provider.
Verdot Capital has sold Hayden Grove Bloomington, a 166-unit senior housing community located in the Minneapolis suburb of Bloomington, Minn. JLL’s Seniors Housing Capital Markets team represented Verdot Capital and arranged the sale of the property to an undisclosed buyer. Great Lakes Management will continue to manage the property following the sale. A price was not disclosed.
Situated at 8715 Portland Ave. S., Hayden Grove Bloomington is a four-story continuum-of-care property completed in 2021. It offers independent living, assisted living and memory care living arrangements. Amenities include a private dining room, library, craft room, game room, party room, theater, event center, beauty salon, bistro, coffee lounge and community room.
READ ALSO: Senior Housing Improves Again Amid Supply Crunch
Downtown Minneapolis is nine miles north of Hayden Grove Bloomington. Health Fairview, Hennepin Healthcare facilities and other healthcare hubs are situated nearby. Bloomington is served by the city’s own Mall of America, the largest shopping mall in the Western Hemisphere.
Aging gracefully in Mill City
According to data cited by JLL, more than 457,000 residents live within seven miles of Hayden Grove Bloomington, almost 90,000 of them age 65 or older. During the next five years, the population of those residents ages 75 and older is projected to increase by 20 percent.
Investment in the city’s senior housing sector continues apace. Two months ago, Shoregate Management acquired the 216-unit Flux Apartments in the Uptown neighborhood of Minneapolis.
In April, Roers Cos. landed a $33.2 million refinancing loan for Risor of Maple Grove, a 169-unit luxury senior community located in the suburb of Maple Grove.
