SLIB Negotiates Sale of 394-Bed Portfolio in Wisconsin

CHETEK, BLACK RIVER FALLS, BLOOMER and OCONTO FALLS, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of four skilled nursing facilities and three assisted living communities located throughout the northern half of Wisconsin.

The properties total 394 beds and are located in Chetek, Black River Falls, Bloomer and Oconto Falls. The properties range in size from 34,070 square feet to 61,170 square feet.

The Atrium portfolio was placed into receivership September 2018 when a for-profit owner-operator based in the East Coast was unable to fulfill its financial obligations. SLIB was hired by the Wisconsin-based receiver to solicit offers.

The court approved the sale to a regional owner-operator based in Illinois that has communities throughout the Midwest. The price was not disclosed.

Jason Punzel and Ryan Saul of SLIB handled the transaction.