Planning underway for Phase II of adjacent senior cooperative

MINNEAPOLIS (Oct. 25, 2011) – United Properties has begun construction of Cherrywood Pointe in Roseville, Minn., the company’s first assisted living project. The 80-unit assisted living community will be located at 2996 Cleveland Avenue North, adjacent to United Properties’ newest senior cooperative housing community, Applewood Pointe of Roseville at Langton Lake.

“Many seniors are looking for a continuum of options when they are ready to leave their single family homes,” said Brian Carey, senior vice president of United Properties. “Our Applewood Pointe senior co-ops offer affordable, maintenance-free housing and a built-in community. The addition of Cherrywood Pointe assisted living will provide an easy transition in the event a need for services arises, providing residents with the option of making a housing transition while staying connected to their neighbors.”

United Properties is working with service provider Ebenezer Management Services, a wholly-owned subsidiary of Fairview Health Services, to manage Cherrywood Pointe. The new assisted living community will include a wide range of options for residents to choose from, including independent living, assisted living and personalized memory care. Additional amenities and services, such as full meals, personalized care, great room, library, theater room, fitness room and salon, will be available to residents of both Cherrywood and Applewood Pointes.

Co-op opens; begins taking reservations on Phase II
The first residents of Applewood Pointe of Roseville at Langton Lake began moving into the co-op in September; only two of the 48 units remain available on this first phase of the co-op. As a result of the quick sale of Phase I, and continued strong interest, reservations are now being taken for Phase II. The second and final phase will include 40 co-op homes, and will be connected to Phase I. Construction of Phase II is anticipated to begin summer of 2012.

The move into assisted living builds on United Properties’ expertise in developing Applewood Pointe senior co-op communities, which offer maintenance-free living for active adults. United Properties’ Applewood Pointe currently has seven metro locations that nearly 1,000 Twin Cities seniors call home, making it a leading developer of senior cooperative housing in the area.

For more information, visit http://www.applewoodpointe.com.

About United Properties
United Properties, based in Minneapolis, Minn., specializes in commercial real estate development and investment. Since 1975, United Properties has provided development services for the retail, residential, office, medical and industrial sectors. In addition to a large presence in the Minneapolis-St. Paul market, United Properties’ Colorado division develops retail, office and flex office buildings. Formed in 1916, the United Properties investments group acquires, manages, finances and disposes of the company’s real estate investments, which includes nearly 60 office, medical, industrial and retail assets in Minnesota, Wisconsin and Colorado. www.uproperties.com

About Ebenezer
For over 90 years, Ebenezer has provided compassionate, community-centered care for older adults and others in need. Partnering with Fairview Health Services in 1995, the combined resources and expertise of Ebenezer and Fairview allow older adults throughout Minnesota to access a full range of choices for vibrant senior living; coordinated programs and services including senior housing, condominiums and cooperatives, assisted living, transitional and long-term care, adult and intergenerational programs and a variety of community-based services. www.ebenezermanagementservices.com


Media Contacts
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Mary Lilja