An assisted living facility in Cedarburg valued at $3.3 million was sold at a sheriff’s sale, according to state records.
Known as LakeHouse Cedarburg, the property at W56 N225 McKinely Blvd. was acquired by Fannie Mae, which is a United States government-sponsored enterprise that provides mortgage financing. Built in 1981, LakeHouse Cedarburg offers assisted living apartment rentals.
The property was sold by an affiliate of Chicago-based assisted living operator Enlivant, which ceased operations at the end of 2023, according to its website. The company could not be reached for comment.
Elivant cited the COVID-19 pandemic, operational and occupancy challenges, rising interest rates and debt service costs as reasons for its closure, according to trade publication Senior Housing News. In 2021, Sabra Health Care Real Estate Investment Trust announced that it would exit its joint venture with Enlivant.
This is the second Enlivant property in southeast Wisconsin to be foreclosed this year. Earlier this year, LakeHouse Sheboygan was sold at a sheriff’s sale with a value of $8.1 million.
