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 …
PLEASANT PRAIRIE, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 100-unit assisted living and memory care community in Pleasant Prairie, approximately midway between Chicago and Milawukee. Built in 2016, the facility benefits from an attractive, modern physical plant and has been well maintained, according to SLIB. The seller was an East Coast-based private equity firm. The buyer is a regional owner-operator that had been looking to expand in this market. The price was not disclosed. Bradley Clousing, Ryan Saul, and Jeff Binder of SLIB handled …
ELKHART LAKE, Wis. — Ziegler has arranged the sale of Cedar Community Elkhart Lake, a 67-unit independent living and assisted living community in Elkhart Lake, approximately midway between Green Bay and Milwaukee. Ziegler advised the seller, local nonprofit Benevolent Corp. Cedar Community, in the transaction. The seller built the entry-fee community in 2008. The 13.3-acre property, located blocks from Elkhart Lake, includes a neighborhood of independent townhomes, a main assisted living apartment complex and a resident clubhouse. Matter Development acquired the property. Matter’s operating affiliate, Koru Health, will operate the …
EAU CLAIRE, Wis. — Blueprint Healthcare Real Estate Advisors has arranged the sale of eight Dove Healthcare-owned seniors housing properties in Wisconsin. The portfolio totals 526 beds/units of skilled nursing and assisted living with regional concentration in and around Eau Claire. Five of the eight properties are located within an 11-mile radius and all within an approximate one-hour drive time. The portfolio consists of mostly five-star rated communities located in close proximity to all the major regional hospitals including HSHS Sacred Heart, Marshfield Clinic and Mayo Clinic-Eau Claire acute referral …
PLUM CITY, Wis. — G Capital Markets has arranged the permanent refinancing of a skilled nursing and assisted living facility in Plum City, a tiny village of fewer than 1,000 residents approximately 60 miles southeast of the Twin Cities. The property was originally built in 1987 and renovated in 2005, with an assisted living expansion built in 2014. The community features 65 beds in 41 private and semi-private units, with a ratio of 70 percent skilled nursing to 30 percent assisted living. The community has performed strongly with occupancy consistently …
WISCONSIN — Ziegler has acted as exclusive financial advisor to Opal Senior Living on obtaining financing for the acquisition of a 72-unit assisted living and memory care community located in Wisconsin named St. Elizabeth Manor. Ziegler provided structuring advice and loan placement services.
APPLETON, Wis. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of an 80-unit assisted living and memory care community in Appleton, near Lake Winnebago southwest of Green Bay. A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. These communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to invest in renovations and repositioning. Unfortunately, the cumulative impact of …
FOOTVILLE, Wis. — Senior Living Investment Brokerage has negotiated the sale of a 73-unit community in Footville, a village of fewer than 1,000 residents located approximately midway between Madison and Rockford, Illinois. The community-based residential facility (CBRF) was built in 2009. If totals 56,912 square feet on approximately seven acres of land. The seller was a group of local real estate owners seeking to retire from the industry. The buyer was an experienced local operator that partnered with an out-of-state equity group. This is the ninth community added to the …
MINNESOTA, OHIO and WISCONSIN — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $29.5 million bridge loan for a portfolio of five skilled nursing and assisted living facilities in Minnesota, Ohio, and Wisconsin: The Landing at Stow, Evansville Manor Nursing and Rehabilitation, Edenbrook Fond du Lac, Edenbrook of Rochester, and Edenbrook of Edina. Together, the facilities consist of 441 beds across 25 acres. The purpose of the loan was to refinance three of the facilities and acquire the other two. Dwight has financed over 20 facilities for …
MUSKEGO and OAK CREEK, Wis. — Walker & Dunlop has arranged HUD acquisition loans for a portfolio of two seniors housing communities in the suburbs of Milwaukee. Kevin Giusti and Daniel Barone led the finance team that secured the $16 million HUD acquisition loan on behalf of the borrower, a well-versed developer, and the lender, the U.S. Department of Housing and Urban Development. The first community is Caring Alternatives of Muskego, a 34-bed/30-unit assisted living facility in Muskego. Walker & Dunlop arranged a $7.2 million loan for the transaction. The …