An assisted living facility in Menomonee Falls valued at $5.7 million was sold at a sheriff’s sale, according to state records.
Known as
LakeHouse Menomonee, the property at N84 W17147 Menomnee Ave. was acquired by
Fannie Mae, which is a United States government-sponsored enterprise that provides mortgage financing. LakeHouse Menomonee 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 third 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, and
LakeHouse Cedarburg was sold at a sheriff's sale with a value of $3.3 million.
Enlivant owned about 10 senior living properties in Wisconsin and more than 100 nationally, according to its website.
