EYOTA, Minn. — A Rochester property management firm paid $4.9 million to buy the Arbor Garden Place senior living facility in nearby Eyota.
Ameritus Property Fund Eyota LLC, which is linked to Cornerstone Management , purchased the 20-year-old Arbor Garden Place at 535 Canyon Drive NW in Eyota on March 28, 2023. Ameritus paid a down payment of $1 million. Fire Pit Set
Senior Housing Consultants of Solon, Iowa, sold Arbor Garden, which it had owned under the name of EYALC, LLC. Cornerstone, the new owner, managed the facility for EYALC. Cornerstone's offices are located in downtown Rochester in the Associated Bank building at 206 Broadway Ave. S.
In 2020, EYALC bought Arbor Gardens Place from the City of Eyota for $1.65 million . The City of Eyota had owned and operated the Arbor Garden Place since it was built in 2003.
Mosaic Coffee Table Olmsted County estimated the total market value of the 34,000-square-foot Arbor Garden property at $2.6 million for 2023-2024.