OSHKOSH and WAUKESHA, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of three assisted living communities in Wisconsin.
A publicly traded REIT sold the assets to reduce the number of buildings leased to a specific tenant. The buyer was a private, regional owner with assets in the area. The price was not disclosed.
The portfolio consists of Mission Creek in Waukesha, a suburb of Milwaukee, and Bella Vista and Lakeshore Manor, located one mile apart in Oshkosh, approximately 45 miles southwest of Green Bay.
Mission Creek is an 85-unit community constructed in 2009 on 3.83 acres and totaling 60,000 square feet. Bella Vista is a 134-unit community constructed in 2008 on 4.65 acres and totaling 120,000 square feet. Lakeshore Manor is a 36-unit community constructed in 2005 on 1.66 acres and totaling 27,100 square feet. Overall occupancy was 80 percent at the time of sale.
Brad Clousing and Ryan Saul of SLIB handled the transaction.