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.
SAVOY, Ill., and FRANKLIN, Wis. — Anthem Memory Care has assumed management of two communities — Savoy Place in Savoy and Franklin Place in Franklin. Under the agreement, Anthem Memory Care is managing all aspects of the communities’ operations and will add regional staff, technology and training programs to adapt the communities to its approach to care. The new properties bring Anthem’s portfolio up to 20 properties and marks the Oregon-based operator’s entry into Wisconsin. With existing communities in Arkansas, California, Colorado, Illinois, Kansas, Minnesota and Ohio, Anthem now manages …
WISCONSIN and NORTH DAKOTA — Meridian Capital Group’s senior housing and healthcare team has negotiated the sale of a three-property senior living portfolio in Wisconsin and North Dakota. The seller was Harrison Street. The buyer and price were not disclosed. New Perspective Senior Living will continue to operate the properties. The three assets offer a combined 146 independent living units, 139 assisted living units and 143 memory care bed. Ari Adlerstein, Josh Simpson and Jesse Rauch led the Meridian team.
WISCONSIN — Helios has structured the sale and recapitalization of an assisted living and memory care provider in Wisconsin. A publicly traded regional lender provided the funds. Helios arranged the sale of non-performing assets assets in the portfolio to regional operators, including behavioral health providers in Wisconsin. The broker then repackaged the remaining performing assets, brought in a new operator, and arranged the debt to recapitalize the portfolio keeping the existing financial partner involved and retiring the operating partner and lender.
ILLINOIS and WISCONSIN — Walker & Dunlop Inc. has originated $65.7 million in 232/223(f) and 241(a) HUD loans for seven skilled nursing facilities and memory care centers across Illinois and Wisconsin. Walker & Dunlop’s Midwest FHA Finance team, led by Joshua Rosen, Brad Annis, and Johnny Rice, arranged the construction loan and refinancings on behalf of five clients. The loans included: Elevate Care Waukegan Location: Waukegan, Illinois Amount: $21.2 million Walker & Dunlop arranged a 232/223(f) HUD loan to refinance existing commercial debt, partnership debt, and fund recent capital improvements …
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