NEW YORK CITY — MonticelloAM has provided an $18 million bridge loan to finance a seniors housing community located in Wisconsin. Karina Davydov, managing director of New York City-based MonticelloAM, originated the financing. The undisclosed borrower will use the proceeds to refinance an outstanding debt and position the property, which totals 100 assisted living and memory care units, for HUD financing.
MUKWONAGO, Wis. — McShane Construction Co. has been selected as the general contractor for Azura Mukwonago, a three-building, 72-unit assisted living and memory care community to be built in Mukwonago, roughly 30 miles southwest of Milwaukee. McShane is constructing the property on behalf of seniors housing developer and operator Azura Living. Positioned on a 6.4-acre site, the property will feature two assisted living facilities and one memory care building. The single-story, wood-frame buildings’ exteriors will integrate full stone veneer masonry and Hardie board. There will also be a barn on-site. Units will …
FOND DU LAC AND DE PERE, Wis. — Senior Living Investment Brokerage (SLIB) has brokered the sale of a seniors housing portfolio in Wisconsin. A private equity group with holdings throughout the Midwest sold the portfolio, which totals 80 units across two communities, for an undisclosed price. The properties include Sage Meadow of Fond du Lac in Fond du Lac and Sage Meadow of De Pere in De Pere. Fond du Lac and De Pere are roughly 70 miles northwest of Milwaukee and five miles south of Green Bay, respectively. The buyer …
WEST BEND, Wis. — Evans Senior Investments (ESI) has arranged the sale of Samaritan Health Center, a county-owned facility in West Bend, approximately 30 miles north of Milwaukee. The community was originally built in 1969 and renovated in 2009. The facility offers three licensed programs: a skilled nursing facility, an assisted community-based residential facility (CBRF), and a supportive living, apartment-style residential care apartment complex (RCAC). Altogether, the center provides 186 beds, including 131 skilled nursing beds, 24 RCAC beds and 31 CBRF beds. At the time of marketing, Samaritan Health …
BROWN DEER, Wis. — Jewish Family Services Inc. has broken ground on Woodale Crossing. The 56-unit affordable and supportive seniors housing community will be located in Brown Deer, a northern suburb of Milwaukee. Of the total units, 25 percent will be reserved for persons with disabilities who are in need of support services. Residents will have access to onsite supportive services that include socialization and skill-based programming, social services and independent living support services. Jewish Family Services has a subsidiary, JFS Housing Inc., which develops affordable housing.
MILWAUKEE and GREEN BAY, Wis. — Blueprint Healthcare Real Estate Advisors has brokered the sale of 12 seniors housing communities in the Milwaukee and Green Bay metro areas. The properties span nine campuses totaling 279 units of assisted living and memory care. Despite underperforming at time of marketing, the portfolio was historically well-occupied and cash-flowing, according to Blueprint. A public REIT sold the assets to Adava Care for an undisclosed price. Kyle Hallion, Lauren Nagle and Brooks Blackmon led the Blueprint team.
WISCONSIN — Ziegler has arranged the sale of an 80-bed skilled nursing and assisted living facility in Washburn County, Wisconsin. The seller was a 501(c)(3) nonprofit organization serving elderly and disabled people across the Upper Midwest. A local operator acquired the asset for an undisclosed price.
MEQUON, Wis. — Lifespace Communities has hired Chris Andersen as executive director at Newcastle Place in Mequon, a northern suburb of Milwaukee. Andersen has 29 years’ experience in healthcare and senior living, including previously serving at Lifespace as executive director at Beacon Hill, Claridge Court, and Oak Trace from 2004 to 2013. Most recently, he served as executive director at Oakmont Senior Living for the Simi Valley and Riverpark campuses. Andersen earned his bachelor’s degree in business administration summa cum laude from Capella University and is a Licensed Nursing Home …
MILWAUKEE and WEST FARGO, N.D. — BMO’s Healthcare Real Estate group has provided a $70 million bridge loan for a joint venture between New Perspective Senior Living, Boldt Capital and Fengate Asset Management. The loan is secured by three senior living communities totaling 435 units located in suburban Milwaukee and West Fargo. Loan proceeds include capital allocated for future capital improvements and value enhancement. Further details were not disclosed.
FRANKLIN and WAUKESHA, Wis. — BMO’s Healthcare Real Estate group has provided a $70.6 million bridge loan for a joint venture between New Perspective Senior Living, Boldt Capital and Fengate Asset Management as part of a larger programmatic relationship focused on acquiring, developing, and operating senior living communities. The BMO loan is secured by two senior living communities totaling 290 units in Franklin and Waukesha. Loan proceeds include capital allocated for future capital improvements and value enhancement. Further details were not disclosed.
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