MINNEAPOLIS, Jan. 5, 2026 –  JLL Capital Markets announced today that it has arranged the sale of The Villages at Essex Park, a 288-unit apartment community located in Rochester, Minnesota.

JLL represented the seller, Dominium, in the transaction, and procured the buyer Black Swan Real Estate.

The Villages at Essex Park is strategically located at 937 41st St. NW, positioning residents within minutes of the world-renowned Mayo Clinic and the city's thriving medical district. The property offers convenient access to major employment centers including IBM's Rochester campus, University of Minnesota Rochester, and numerous healthcare facilities. In addition, the community is located just 80 miles from both Minneapolis and Saint Paul.

Rochester continues to solidify its position as America's premier medical destination, anchored by the Mayo Clinic's global leadership in healthcare innovation. The city boasts robust demographics with an average household income of $120,000, unemployment rate of just 2.60%, and impressive population growth of 15.43% within a five-mile radius since 2010. Rochester is experiencing unprecedented economic expansion through the Destination Medical Center initiative, which represents over $5 billion in projected private investment over the next 20 years and is expected to create 30,000 new jobs. This largest economic development initiative in Minnesota history positions Rochester as the world's premier destination for health and wellness.

The Villages at Essex Park comprises two distinct phases: Essex Park, built in 1999 with 144 market-rate units and Essex Place, originally constructed in 1991 and renovated in 2013 with 144 Section 42 income-restricted units at 60% AMI.

The community spans 17.35 acres and features units averaging 1,005 square feet, ranging from one- to three-bedroom homes. Community amenities include a clubhouse with fireplace, fitness center, swimming pool, playground and picnic areas with grilling stations. Market-rate units feature in-unit washers and dryers, private garage spaces, and upgraded appliances..

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Director Josh Talberg, Director Joseph Peris, Senior Managing Director Doug Childers and Analyst Jack Graveline.

"The Villages at Essex Park represents an exceptional investment opportunity in one of Minnesota's most dynamic growth markets," said Talberg. "Rochester's position as a global medical destination, combined with the property's strong fundamentals and re-syndication potential, made this an attractive asset for investors seeking exposure to the expanding healthcare economy."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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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 113,000 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. 

Founded in 1972, Dominium is a purpose-driven leader in affordable housing, dedicated to addressing the nation’s housing crisis through lasting and impactful solutions. With offices in Atlanta, Dallas, Phoenix, and Minneapolis, Dominium owns, develops and manages more than 40,000 apartment homes in more than 220 communities nationwide. The company is committed to building enduring value through high-quality, affordable housing that strengthens communities, supports residents and serves the needs of financial partners. Beyond housing, Dominium extends its impact through pro bono development services, charitable contributions, post-secondary scholarships, internships and volunteer efforts in the communities where its employees live and work. www.Dominiumapartments.com.

Black Swan Real Estate is a values-driven, vertically integrated real estate investment company that manages more than 2,000 units and $500 million in assets under management. The company operates with a unique investor-focused passive investment model that eliminates all general partner-level fees and offers 10%+ fixed returns. Black Swan Real Estate's vertically integrated operations provide security and alignment of incentives between the company and its passive investors.