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The Doran Group Announces $28 Million Sale of The Village at Arbor Lakes in Maple Grove, Proceeds to be reinvested into new projects, including The Linden House in Hudson, WI
Eden Prairie, MN – The Doran Group today announced the successful sale of its retail center, The Village at Arbor Lakes, to Curbline REIT for $28 million. The sale marks another strategic step in the company’s ongoing efforts to optimize its portfolio and redeploy capital into new development opportunities across the Upper Midwest.
Proceeds from the sale of the neighborhood retail center will be reinvested into a pipeline of new projects, including The Doran Group’s continued expansion into the active adult housing sector with its second 55+ community, The Linden House, planned for Hudson, Wisconsin.
“The Village at Arbor Lakes has been a strong-performing asset for our portfolio, and we’re proud of the role it has played in serving the Maple Grove community,” said The Doran Group President and CEO Evan Doran. “At the same time, this sale allows us to strategically redeploy capital into new developments that align with our long-term vision for growth, including expanding our footprint in the active adult space.”
The Linden House will be a 128-unit active adult (55+) apartment community located in Hudson, Wisconsin. Building on the momentum of the company’s first 55+ development, Olinia-Maple Grove, the project reflects The Doran Group’s continued commitment to delivering high-quality, lifestyle-oriented housing options for the region’s growing population of active adults.
“As we look ahead, we remain highly confident in the demand for thoughtfully designed 55+ communities,” said Doran. “The Linden House represents the next step in building a scalable active adult platform, and Hudson is an ideal regional community for this type of housing.”
The Doran Group will continue to leverage its fully integrated platform – spanning development, design, construction, and property management – to execute on The Linden House and future projects throughout the region. Construction is expected to get underway later this spring on The Linden House.
Sean Doyle, AJ Prins, Charlie Hexum and Rob Wise with CBRE, Inc. represented the seller in the successful sale of The Village at Arbor Lakes.
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The Doran Group portfolio nominated for Minnesota Star Tribune awards
We are humbled to see so many of our Twin Cities apartment communities nominated for The Minnesota Star Tribune’s “Best Apartment” award. We believe this is entirely because of our dedicated, creative and generous employees – including everyone from our maintenance, housekeeping, property management and leasing teams, to our architecture and construction teams. We’d be honored to have your vote at the link below!
VOTE HERE!
Finance & Commerce: Evan Doran, The Doran Group Named to the POWER List
Thanks to Finance & Commerce for including our President and CEO Evan Doran in this year’s POWER List. Here at The Doran Group, we are proud to be part of a robust, creative and resilient Twin Cities-based real estate industry. Real estate is all about partnerships – and it is those thriving partnerships that make every single project we develop, design, build and activate so meaningful for us. #partnerhip