Press Releases
Marcus & Millichap Facilitates $6.5M Sale of 36-Unit Senior Housing Property in Faribault, Minnesota
December 16, 2025
FARIBAULT, Minn., Dec. 16, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Pleasant View Estates, a 36-unit assisted living and memory care facility in Faribault, Minnesota, for $6.5 million.
“This acquisition reflects growing investor confidence in the seniors housing sector,” said Ray Giannini, senior managing director investments. “The attached, vacant skilled nursing facility will be repurposed into additional assisted living units, enhancing the property’s value and aligning with market demand. We’re seeing strong momentum in this market, with improvements across all key metrics driving increased activity from both buyers and sellers.
Giannini, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, Monarch Healthcare Management, and procured the buyer, a regional private investor.
Pleasant View Estates, located at 41 Brand Ave., was built in 1998 and sits on 4.82 acres. The 44,300-square-foot facility includes 24 one-bedroom and 12 two-bedroom apartment-style units. Approximately 75% of the residents are Medicaid assisted living facility occupants. The building is connected to a vacant skilled nursing facility formerly known as Pleasant Manor.
“This acquisition reflects growing investor confidence in the seniors housing sector,” said Ray Giannini, senior managing director investments. “The attached, vacant skilled nursing facility will be repurposed into additional assisted living units, enhancing the property’s value and aligning with market demand. We’re seeing strong momentum in this market, with improvements across all key metrics driving increased activity from both buyers and sellers.
Giannini, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, Monarch Healthcare Management, and procured the buyer, a regional private investor.
Pleasant View Estates, located at 41 Brand Ave., was built in 1998 and sits on 4.82 acres. The 44,300-square-foot facility includes 24 one-bedroom and 12 two-bedroom apartment-style units. Approximately 75% of the residents are Medicaid assisted living facility occupants. The building is connected to a vacant skilled nursing facility formerly known as Pleasant Manor.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
