January 24, 2024
SLEEPY EYE, MN, and MAPLEWOOD, MN — Senior Living Investment Brokerage has announced in a press release the sale of two Minnesota communities: Sleepy Eye Rehabilitation Center and Assisted Living, an assisted-living and memory-care facility in Sleepy Eye, a small city in rural Brown County, and Maplewood Rehabilitation Center and Assisted Living, an IL/AL/MC/SNF in Maplewood, 20 minutes east of St. Paul, Minnesota.
The 128-bed Sleepy Eye was built in 1972 and 1986, and the 149-bed Maplewood community features 61 residences and was built in 1970 and 1995.
The buyer is a large, experienced, in-state owner/operator looking to grow its footprint in Minnesota, while the seller is a large national nonprofit looking to condense its portfolio to focus on its core communities. The buyer’s and seller’s names were not disclosed.
“The seller felt confident engaging such an experienced buyer that is uniquely positioned to take on these continuum communities,” said SLIB Vice President Jake Anderson. “The seller is eager to refocus their efforts on some of their core communities.”