MD-based group buys Minneapolis senior housing facility for $27.8M

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MINNEAPOLIS, MN — Lakeville, Minnesota-based The Pillars of Lakeville was sold to Maryland-based Artemis Real Estate Partners for $27.78 million late last week, according to a recently released certificate of real estate value.

According to the listing for the site on the Oppidan Investment Co. website, the building spreads its 100 apartment units across independent living, assisted living and memory care units. The firm bought the site from the Crossroads Church in 2021 and finished construction in early 2023.

It is located at 17701 Glacier Way in Lakeville. A memo from Oppidan in 2021 says Ebenezer Senior Living is the operator of the property. It also notes the building is situated next to Four Square Childcare, a child care facility operated by Crossroads Church. This connection provides “intergenerational connections” programming, where adults at the senior facility will interact with children at the day care.

The price per unit for the site sits at $277,800.

The Pillars of Prospect Park, a Oppidan-built Minneapolis property, sold for $140 million or almost $494,700 per unit. The Pillars of Prospect Park was the largest multifamily sale of 2025. The Pillars also features intergenerational programming.

Finance & Commerce reached out to Oppidan for this story but did not hear back before time of publication.

Artemis, the Chevy Chase-based group that bought Pillars of Lakeville, has been busy in the Twin Cities market. The firm bought six warehouses with Endeavor Development in June 2025 for $92 million. In the final days of 2025, Artemis also sold a 200-unit senior living facility in Woodbury.

According to the listing from Oppidan, the site also features a fitness center, a community room, outdoor dining, a rooftop deck and a pickleball court.