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Five-Property Havenwood Senior Living Portfolio Sold for $160 Million

February 17, 2022
Roers Companies sold its Twin Cities area Havenwood Senior Living properties to Lone Star Funds today for $160 million, which appears to be the highest price to-date for a senior living portfolio transaction in the metro area. The sale includes five properties in Minnetonka, Maple Grove, Burnsville, Richfield and Buffalo, totaling more than 550 independent and assisted living apartments, plus...
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Awards & Achievements

Business Journal Names Roers Cos. to Top Developers List

February 4, 2022
The annual list of the top developers in the Minneapolis/St. Paul metro area compiled by the Business Journal was released today. For the third year in a row, Roers Cos. landed in the top five, coming in at number four with more than 3.6 million sq. ft. of local development since 2019. We extend our congratulations and our thanks to...
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Company News

Duluth News Station Covers Phase 2 of Cove Apartments

February 3, 2022
Nestled near the shores of Lake Superior in the heart of Duluth, Phase 2 of Cove Apartments is looking to open this Fall.  Phase 1 of Cove Apartments saw almost all of its 48 units filled before doors even opened back in late 2020. “The goal with these historic rehabs is to try to be able to deliver a product...
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Awards & Achievements

Shane LaFave Honored as a 2021 POWER 30 Developer

December 29, 2021
Finance & Commerce announced their POWER 30 Developers, a list of "leaders and movers and shakers who are key players in Minnesota's development community." The list was built by interviewing respected members of the community and consulting the archives of Finance & Commerce to find people whose achievements and influence are significant in Minnesota’s real estate development field. Roers Companies celebrates our...
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Company News

Affordable Housing Expansion in Texas

October 14, 2021
Roers Companies is expanding into the Lone Star State with a 300-unit affordable housing complex in Hutto — with more projects potentially on the way for Central and North Texas. The three-story complex, tentatively named The Narrows Apartments, will be federally subsidized as Section 42 housing. The program allows developers to sell tax credits in return for keeping rents restricted...
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Company News

Active 55+ Concept Expands

October 14, 2021
Roers Companies continue to break into the active 55+ market with Risor properties now in development in Apple Valley, Bloomington, Maple Grove, and St. Louis Park. "The Risor brand aims to fill the so-called “missing middle” of senior housing, appealing to active older tenants who aren’t quite ready for true senior housing but are eager to downsize," said Andy Bollig,...
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Company News

Roers Cos. Eyes Salt Lake City Expansion

October 12, 2021
Roers Cos. plans to add 397 housing units in three, six-story apartment buildings in Salt Lake City’s North Temple transit corridor. The unnamed apartment project would provide a mix of one-, two- and three-bedroom homes and continue filling a queue of ongoing and upcoming projects of all sizes along the transit corridor on the capital’s west side. Read the full...
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Company News

First Residents Move in to Roers Cos. Largest Project Yet

October 7, 2021
Beyond Apartments in Woodbury is Roers Cos.’ largest project to-date with 255 apartments, and the first phase of the building opened to residents on September 18. The second phase will open later this fall. This two-building (four- and five-story) project is within Woodbury’s City Place district, which is a mixed-use, pedestrian-friendly village with shops, grocery, stores, and entertainment. There is...
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Company News

Red44 Sold for Record Price in Rochester

October 5, 2021
Red44, a 159-unit apartment complex in Rochester, has sold to Regency for $34 million. JLL marketed the property on behalf of Roers Cos. Investments, LLC & Reuter Walton Development. Built in 2017, Red44 was developed using a private-funding model whereby high-net-worth individuals from the region invested in the project, so proceeds from the sale will remain in the area. Red44...
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Awards & Achievements

Core Living Ranks No. 2351 on the 2021 Inc. 5000

August 17, 2021
Inc. magazine today revealed that Core Living – a property management division of real estate developers, Roers Cos., based in the Twin Cities – has made the annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. With 4,500 units under management in the six-state region, Core Living ranks No. 2351 on the 2021 Inc. 5000....
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