United Properties and Saint Anne of Winona to Jointly Develop New Senior Housing Concept in Winona

42-unit community to feature a cooperative ownership structure

MINNEAPOLIS (July 6, 2007) — Twin Cities' commercial real estate company United Properties is partnering with Saint Anne of Winona, part of the Benedictine Health System, to develop and market Applewood Pointe of Winona, formerly known as Joachim Meadows. Located on a 3.5-acre site on East Burns Valley Road in Winona, the cooperative will feature 42 units of independent senior housing for people ages 55 and older. Construction will begin when approximately 50 percent of the homes are sold.

The joint project presents a new kind of housing option for the Winona area. Saint Anne’s provides assisted living, adult day services, and skilled nursing services.  The Applewood Pointe of Winona project will add homes for the independent senior.

“We are very excited to bring this exceptional living option to the Winona community. It is a natural fit with our mission to serve the needs of seniors in our community” said Rand Gettler, CEO for Saint Anne of Winona.

The team is providing a free seminar for seniors interested in cooperative living.  The upcoming seminars will take place at Express Suites Riverport Inn, 900 Bruski Drive, on July 11 at 10 a.m., and July 23 at 1:00 p.m. Call Lana Sacia at 507-291-6153 to make reservations. Additional information meetings will be held later this summer.

As the developer of Applewood Pointe, Twin-Cities based United Properties began developing cooperatives for active seniors in 2003.  Applewood Pointe is a network of senior cooperative communities with locations in Bloomington, Maple Grove, New Brighton, Roseville and Woodbury, Minnesota. The communities offer four pricing options and a top-quality lifestyle without the demands of home maintenance.

“We are creating communities where seniors – especially those who now own single-family homes – can invest in real estate but give up the daily demands of maintaining a house,” said Brian Carey, vice president, United Properties Development. “Our cooperative structure gives the tax benefits of home ownership and also provides an affordable, low-cost alternative to renting.”

About United Properties
United Properties is a full-service commercial real estate company with more than 500 employees and 30 million square feet of office, industrial, retail and multi-family properties under management. The company specializes in diverse real estate services, including brokerage, property management, corporate real estate services, construction management and development.

Based in the Twin Cities, United Properties serves other markets through its affiliations with ONCOR International, an organization of commercial real estate companies serving more than 200 markets throughout the world, and ChainLinks Professional Resource Network, the largest retail-only full-service real estate provider in North America. The company has been recognized by the Business Journal as one of the Great Places to Work in the Twin Cities for the last four years. United Properties is located on the Web at www.uproperties.com.

About Saint Anne on Winona
Saint Anne of Winona is sponsored by the Benedictine Health System, a nonprofit Catholic health care system. BHS owns and/or manages more than 60 health care facilities – hospitals, nursing homes, independent and assisted living facilities – across nine states. Saint Anne of Winona operates Saint Anne Extended Healthcare, assisted living apartments through Callista Court, the Benedictine Adult Day Center and Saint Anne Training Center for nursing assistants.