Coastal money just made a big move in the suburbs. A California-based real estate investment trust has snapped up The Waters of Eden Prairie for $34 million, taking over the senior-living community on Prairie Center Drive in an all-cash deal that closed earlier this month. The buyer, listed in local sale records as Sabra Health Care REIT, now controls one of Eden Prairie’s larger senior-care properties.
As reported by Twin Cities Business Journal, the transaction surfaced in a certificate of real estate value filed with state tax officials, with the Business Journal flagging the sale on April 17 after the CRV was recorded.
Deal details and property profile
A Finance & Commerce report says Sabra acquired the 158-unit, three-floor community in a deal valued at $34 million. A Catylist listing cited in that coverage shows the property at about 205,262 square feet. The CRV also shows The Waters Senior Living paid roughly $30.75 million for the site in 2016, making this the…..