April 18, 2022
Minneapolis – Transwestern Real Estate Services (TRS) announces its Midwest Capital Markets team brokered the sale of Hiawatha Suites, a senior assisted living and memory care facility at 4140 Dight Ave. South in Minneapolis, Minnesota. Transwestern’s Harrison Wagenseil and Erik Coglianese represented the seller, a local developer of multifamily, single-family and assisted living facilities, in the transaction. The total consideration for the sale set a high-water mark at over $200,000 per bed.
“In the senior and assisted living space, COVID had a particularly poignant impact on values and occupancy,” said Wagenseil. “The fact that Hiawatha was a new facility and nearly 100% occupied at the time of sale really improved our transaction outcome, and likewise the outcomes for its future residents.”
Built in 2019, Hiawatha Suites caters to residents looking for a memory care and high-acuity assisted living facility in an urban environment. The facility features en-suite bathrooms for each unit, a movie theater, library and communal dining facilities.
Transwestern’s Midwest Capital Markets team provides investment sales and financing solutions to investors across the commercial real estate spectrum and has expert team members who individually specialize in office, industrial, retail, multifamily and senior living assets, including independent living, assisted living, memory care, skilled nursing and continuing care retirement communities.
Photos are available for download here.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Media Contact:
Amy Wheaton
612.359.1666
Amy.wheaton@transwestern.com
twmediarelations@transwestern.com
