Home Industries Real Estate Brookfield assisted living community sold for $23 million

Brookfield assisted living community sold for $23 million

By
Hunter Turpin
-
Image from Heartis Brookfield

The Chicago investment firm that recently purchased a Glendale assisted living facility for $17.4 million has also purchased a second Milwaukee area assisted living facility for $23.5 million, according to state property records. Ventas, a publicly-traded real estate investment firm with more than 800 senior living properties nationally, purchased the 105-unit Heartis Village Brookfield at

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Hunter Turpin
Hunter covers commercial and residential real estate for BizTimes. He previously wrote for the Waukesha Freeman and Milwaukee Journal Sentinel. A graduate of UW-Milwaukee, with a degree in journalism and urban studies, he was news editor of the UWM Post. He has received awards from the Milwaukee Press Club and Wisconsin Newspaper Association. Hunter likes cooking, gardening and 2000s girly pop.
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The Chicago investment firm that recently purchased a Glendale assisted living facility for $17.4 million has also purchased a second Milwaukee area assisted living facility for $23.5 million, according to state property records. Ventas, a publicly-traded real estate investment firm with more than 800 senior living properties nationally, purchased the 105-unit Heartis Village Brookfield at 16040 W. Greenfield Ave. Heartis Village Brookfield was built in 2019 by Chicago-based Pathway to Living and Dallas-based Caddis Healthcare Real Estate. The property, like the one in Glendale, were sold by an affiliate of Caddis, which has completed over $1 billion in development and acquisitions, according to its website. The Brookfield and Glendale properties are the only ones that Caddis had developed or owned in southeast Wisconsin, its website shows. Heartis Village Brookfield offers 71 assisted living units ranging from studios to two bedrooms and 34 memory care studios, according to its website. The 10-acre property has an assessed value of $22.2 million, according to Waukesha County records.

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