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Oct 23

Gandolf Group!

Gandolf was formed in August 2000, by hiring a management team with several years experience in the affordable housing industry. Its owner, PSC Funding, is an investment company with experience in the  creation of assisted-living facilities in the greater Minnesota area through a sister company, Prairie Senior Cottages.

Prairie Senior Cottages operates dementia facilities in Willmar, Alexandria and Hutchinson, Minnesota. They are currently building, or planning to build,  in other locations, primarily in Minnesota.  The current CEO was previously involved with Kensington Cottages, an assisted living company,  that sold out in 1998 in a multi-million dollar transaction to another national assisted-living company.
Prairie Senior Cottages of Isanti opens its doors
PSC Funding began Gandolf Group in order to complement their existing assisted living company. The business plan for Gandolf Group includes the development of affordable housing, primarily through the federal tax credit program, for families and seniors.   Tim Oliver, a successful real estate investor, provides the overall leadership for both companies. To provide day to day management to Gandolf,  PSC Funding hired two experienced affordable housing executives, Roger G. Peterson and Bruce E. Larson to form the initial management team for Gandolf.

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