JLL arranges sale of two Twin Cities seniors housing communities

MINNEAPOLIS, Aug. 10, 2026 – JLL Capital Markets announced today that it has arranged the sale of Boulder Ponds Senior Living and Round Lake Senior Living, a 216-unit portfolio of Class A seniors housing communities located in Lake Elmo and Arden Hills, Minnesota.

JLL's Seniors Housing Capital Markets team represented the seller, Trident Development, in the transaction and secured the buyer, LTC Properties, Inc. (NYSE: LTC). Lifespark will remain the operator of both communities.

Developed by Trident Development, the portfolio comprises two purpose-built communities strategically located within affluent and growing Twin Cities submarkets. Both communities offer independent living, assisted living and memory care services.

Boulder Ponds Senior Living, completed in 2020, is a 95-unit community in Lake Elmo located at 192 Jade Trail N. Situated within the Twin Cities' rapidly expanding eastern corridor, the community features high-end finishes, resort-style amenities and a design tailored to the area's affluent demographic profile. The property has demonstrated strong operating performance and stability, maintaining approximately 98% occupancy. This community’s sale reflects the highest price per unit trade of a senior housing asset in Minnesota.

Round Lake Senior Living, which opened in 2023, is a 121-unit community in Arden Hills at 1740 Parkshore Dr, an affluent Minneapolis-St. Paul suburb. Positioned along the shores of Round Lake, the community benefits from convenient access to major employment centers, retail amenities and healthcare services. Residents enjoy an extensive amenity package, including multiple dining venues, a library, art room, heated underground parking and thoughtfully designed outdoor gathering spaces.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Founded in 2006, Trident Development is a real estate development firm specializing in the development of multi-family housing throughout the states of Minnesota and Montana. The team brings a diverse skill set spanning real estate development, asset management, construction and project management, as well as interior and exterior design. Since its inception, Trident has developed over 4,500 residential units, including: Market-rate/general occupancy apartments, Assisted Living Communities, and 55+ independent senior apartment projects, To learn more, please visit: https://www.tridentdevelopmentmn.com.

LTC is a real estate investment trust (REIT) focused on seniors housing and health care properties, principally investing through SHOP, as well as triple-net leases, and joint ventures. The Company’s portfolio includes nearly 190 properties throughout the United States. Based on gross real estate investments, 70% of the Company’s assets are seniors housing communities with the remainder skilled nursing centers. Learn more at www.ltcreit.com.

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.