Sabra Minnesota AL Propco buys 723 Water St in Excelsior for $53.25 million

The senior living facility at 723 Water St in Excelsior sold for $53,250,000, or 2.8 times its recorded market value. The Certificate of Real Estate Value filed with the Minnesota Department of Revenue lists the sale date as November 2, 2026.

The record lists The Waters of Excelsior, LLC as the seller and Sabra Minnesota AL Propco, LLC as the buyer.

Assessor's records show the facility was built in 2017 and sits on a 1.85-acre lot. The market value on record is $18,860,000.

This summary was written by AI from public sales records and checked by automated rules. The figures come from the record and the NetSheet.org rules engine. How we make these.

What were the closing costs in Hennepin County?

By our estimate, the seller's two largest charges, not counting prorations, were $181,050 for the state deed tax + Environmental Response Fund (Hennepin/Ramsey) and $94,162.50 for the owner's title insurance policy. Who pays what follows Hennepin County custom.

How much did the seller net?

By our estimate, the seller netted about $53,069,025. That is before any broker commissions and any loan payoff.

How much cash did the buyer bring to closing?

A cash buyer would need about $53,345,129 at closing. That covers the full price and closing costs.

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