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.
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.
MEQUON, Wis. — Lifespace Communities has named Matt Monaco as executive director of Newcastle Place, a seniors housing community in Mequon, a northern suburb of Milwaukee Monaco most recently served as associate executive director at Clarendale Clayton in Missouri. He has extensive culinary and operations experience in senior living, and once worked at former Lifespace community in Urbandale, Iowa. Monaco received his bachelor’s degree in hotel, restaurant and institution management from Iowa State University, and his master’s degree in hospitality management from Purdue University.
CHICAGO — Ziegler, a Chicago-based investment bank, has arranged $24 million in financing for Wisconsin Illinois Senior Housing (WISH), a nonprofit owner-operator. The financing comprises $22.5 million of tax-exempt bonds directly purchased by BMO Harris Bank, along with a $1.5 million taxable term loan. Proceeds of the financing will be used to refinance a series of WISH’s outstanding bonds, pay an associated prepayment penalty and pay costs of issuance. The bonds were issued through the Wisconsin Health and Educational Facilities Authority. WISH, an Illinois corporation organized in 1994, currently owns …
JANESVILLE, Wis. — Ziegler has arranged a financing package totaling $87.5 million for an expansion project at Cedar Crest, a continuing care retirement community in Janesville, approximately 40 miles southeast of Madison. The financing includes $57.5 million in fixed-rate revenue bonds and $30 million in bank debt bought by BMO Harris Bank. The Wisconsin Health and Educational Facilities Authority issued the financing. Cedar Crest currently features 135 independent living units (consisting of 102 apartments and 33 cottages), 44 assisted living units, 24 memory care assisted living units, and a skilled …
MILWAUKEE — Vium Capital has provided a $21.3 million bridge loan for Bria of Trinity, a continuing care retirement community in Milwaukee. The loan provides funds for the acquisition of the property. The seller was seeking an exit from a geographic outlier while the buyer was looking to expand its presence in the state. Further details were not disclosed.
MEQUON, Wis., OXFORD, Miss., and SUMMERVILLE, S.C. — Walker & Dunlop has brokered the sales of three seniors housing communities located in the Midwest and Southeast. In the first transaction, Walker & Dunlop brokered the sale of Wright House Senior Living, a 110-unit independent living, assisted living and memory care community in Mequon. The lead broker was Alex Vice. In the second transaction, Walker & Dunlop brokered the sale of The Blake at Oxford, a 100-unit assisted living and memory care community in Oxford. The buyer was Chicago Pacific Founders, …
MUSKEGO, Wis. — Ziegler has arranged $38.7 million in bond financing for PHW Muskego, an affiliate of Presbyterian Homes and Services. The funds will be used for the construction of a new senior living community, Stair Crest in Muskego, approximately 16 miles southwest of downtown Milwaukee. The bonds are non-rated, tax-exempt, fixed-rate serial and term bonds with a 40-year maturity. The community will feature 80 independent living apartments, 40 assisted living apartments (20 of which are designated for memory care) and a town center. Upon construction completion, the borrower expects …
MENASHA, Wis. — Grandbridge Real Estate Capital LLC has arranged a $12.6 million loan secured by a three-building, 100-unit, 146-bed seniors housing facility on two sites in Menasha, on the northern end of Lake Winnebago. Artin Anvar originated the permanent, fully amortizing modification loan through HUD’s FHA 232/223(f) Interest Rate Reduction (IRR) loan program. Structured with a 26.3-year term and 26.3-year amortization, the nonrecourse transaction closed with a fixed interest rate of 3.2 percent. The loan proceeds will be used to pay off an existing Grandbridge HUD loan. The borrower …
MEQUON, Wis. — Lifespace Communities has acquired Newcastle Place, a 257-unit continuing care retirement community (CCRC) in Mequon. The seller and price were not disclosed. The acquisition of Newcastle Place, located in a suburb of Milwaukee on Lake Michigan’s western shore, brings Lifespace’s family of continuing care communities to 16. Newcastle Place, which sits on 52 acres, joins six other Lifespace communities in the Midwest. Lifespace, based in West Des Moines, Iowa, is one of the nation’s largest nonprofit owners and operators of CCRCs.
