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.

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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.

Media Contacts
Martha Nevanen

Mary Lilja

About United Properties

United Properties has been creating deep roots in the commercial real estate industry for more than 100 years. The company imagines new possibilities in real estate to help enrich communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with offices in Denver and Austin, Texas.



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