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Affordable HousingDevelopmentIndependent LivingNewsWisconsin

Presbyterian Homes & Services Receives Grant Funding for Deerfield Expansion Project in New Richmond, Wisconsin

by Jeff Shaw

NEW RICHMOND, Wis. — Presbyterian Homes & Services (PHS) has received $2.5 million in private grant funds for the expansion of The Deerfield, a senior living community in New Richmond, approximately 40 miles east of downtown Minneapolis. One hundred percent of the campus’ 24 new independent living apartments — scheduled to open in summer 2023 — were reserved within weeks of the start of marketing, according to the company. The apartments target low- and middle-income residents. “Clearly there is great demand for modest priced housing in the market,” says Jon …

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Assisted LivingFinanceNewsWisconsin

Walker & Dunlop Arranges $14.6M Refinancing for Reena Senior Living in Atkinson, Wisconsin

by Jeff Shaw

ATKINSON, Wis. — Walker & Dunlop has arranged a $14.7 million refinancing for Reena Senior Living, an 80-unit/80-bed assisted living and memory care facility in Fort Atkinson, approximately midway between Milwaukee and Madison. Walker & Dunlop’s Kevin Giusti and Matthew Lund led the team in closing the HUD loan. The borrower was Tukka Properties. The property consists of a three-story assisted living building built in 2016 and a one-story memory care addition built in 2019.

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AcquisitionsActive AdultNewsWisconsin

Greywolf Brokers $4M Sale of Pheasant Branch Senior Apartments in Middleton, Wisconsin

by Jeff Shaw

MIDDLETON, Wis. — Greywolf Brokerage, a division of Greywolf Partners Inc., has brokered the $4 million sale of Pheasant Branch Senior Apartments in Middleton, a suburb of Madison. The 45,166-square-foot building contains 47 units. The property was fully occupied at the time of sale and sold slightly above the listing price. Dawn Davis of Greywolf represented the seller. Buyer and seller information was not provided.

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AcquisitionsAssisted LivingNewsWisconsin

SLIB Negotiates Sale of Wickshire Madison in Wisconsin

by Jeff Shaw

MADISON, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Wickshire Madison, an assisted living community in Madison. The property was built in 1992 on a 2.5-acre plot. A Northeast-based private REIT sold the property to a private regional company looking to expand in the Midwest. The price was not disclosed. Daniel Geraghty and Ryan Saul of SLIB handled the transaction. “The asset is a well-run community, being 100 percent occupied, which will make for an excellent addition to the buyer’s growing Wisconsin portfolio,” says Geraghty.

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AcquisitionsNewsSkilled NursingWisconsin

Pennant Acquires Home Health Agency in Kenosha, Wisconsin

by Jeff Shaw

KENOSHA, Wis. — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, has acquired the assets of Kenosha Visiting Nurse Association Inc., which provides skilled home health, private duty and community health services in Kenosha. “We are pleased to expand our home health operations deeper into southern Wisconsin,” says Brent Guerisoli, CEO of Pennant. “KVNA will be a great partner to our senior living affiliates in the area as we further expand the continuum of …

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AcquisitionsAssisted LivingFinanceNewsWisconsin

VIUM Provides $6.2M Bridge Loan for Community in Northeast Wisconsin

by Jeff Shaw

WISCONSIN — VIUM Capital has funded a $6.2 million bridge loan for a 62-unit assisted living and memory care community in Northeast Wisconsin. The borrower used the funds to acquire the property and further build on its existing portfolio in Wisconsin. Further details were not disclosed.

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FinanceMichiganNewsOhioSkilled NursingWisconsin

Lument Provides $87M in HUD-Insured Loans for Refinancing of Midwest Skilled Nursing Portfolio

by Jeff Shaw

OHIO, MICHIGAN and WISCONSIN — Lument has provided $87 million in HUD 232/223(f) loans for the refinancing of a portfolio of nine skilled nursing facilities located in Ohio, Michigan and Wisconsin.  The properties total 691 beds. The operator, Atrium Centers Inc., provides short-term, post-acute rehabilitation and long-term nursing care. Each of the nine loans features a fixed interest rate.  HUD 232/223(f) loans allow for the purchase or refinancing of nursing homes and assisted living facilities.

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AcquisitionsNewsWisconsin

SLIB Brokers Sale of Eight-Property Portfolio in Metro Milwaukee

by Jeff Shaw

MILWAUKEE — Senior Living Investment Brokerage (SLIB) has arranged the sale of eight seniors housing communities in the Milwaukee metro area. The eight communities feature a total of 449 units/beds, with occupancy averaging 84 percent. The seller was a private owner that acquired these communities as value-add deals and turned them around. The buyer was an experienced assisted living company with an existing portfolio in the Southeast looking to expand in the Midwest. The price was not disclosed. Jason Punzel, Ryan Saul and Bradley Clousing of SLIB handled the transaction.

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AcquisitionsAssisted LivingNewsWisconsin

NAI Greywolf Arranges Sale of 123-Bed Seniors Housing Campus in Green Bay

by Jeff Shaw

GREEN BAY, Wis. — NAI Greywolf has negotiated the sale of two seniors housing communities in Green Bay. Dawn Davis represented the seller. The portfolio included Bishop’s Court Community, a 69-bed assisted living facility with memory care, and Allouez Sunrise Village, which is a 49-unit residential care apartment complex. The combined 125,711-square-foot portfolio is located on the same campus. The buyer and price were not disclosed.

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NewsOperationsPeopleWisconsin

Ridgeline Names Jarett Yach as Executive Director of The Ridge at Madison in Wisconsin

by Jeff Shaw

MADISON, Wis. — Ridgeline Management Company has hired Jarett Yach as executive director of The Ridge at Madison in Madison. Yach started working with the senior population as a nutritional aide at the age of 15. He became a Certified Nursing Assistant at the age of 16 and has been in senior care since. Yach has advanced in his career throughout the years by working as a director of resident services, director of community relations and as a certified CBRF administrator.

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