Inland Private Capital Corporation (IPC) has announced the completion of a more than $76 million capital raise for the private investment offering of Minneapolis MSA Senior Living Portfolio DST, an IPC-sponsored Delaware statutory trust (DST). The offering has been fully subscribed by investors and is now closed.
The DST owns three senior living communities, comprised of 321 total units located in Minneapolis and surrounding suburbs: The Waters of Edina, 6300 Colonial Way, Edina; The Waters on 50th, 3500 West 50th Street, Minneapolis; and The Waters of Plymouth, 11305 Highway 55, Plymouth.
“The current and foreseeable senior housing shortage underscores a significant supply/demand imbalance,” commented Nati Kiferbaum, senior vice president – head of investment product strategy for IPC. “An imbalance of such magnitude, coupled with demographic tailwinds, is anticipated to continue to support our view and investment in the sector.”
To date, IPC’s s
