Mission Viejo, Calif.-based The Ensign Group, Inc., acquired the underlying real estate of 15 assisted living operations in Wisconsin Tuesday, including five in the Milwaukee area.
The Ensign Group, Inc., is the parent company of Ensign, a group of skilled nursing, rehabilitative care services, home health care, hospice care and assisted living companies. Since August 2015, an Ensign subsidiary has been operating each facility under a lease with a purchase option.
The acquisition was made using cash from the company's revolver effective Dec. 21. The company did not disclose the sales price, but state records had sales data for some of the properties.
The properties acquired include:
Brenwood Park Assisted Living, a 46-unit assisted living facility in Franklin, $2.35 million.
Riverview Village Senior Living, a 44-unit assisted living facility in Menomonee Falls, $3.13 million
Racine Commons Assisted Living, a 74-unit assisted living facility in Racine, $6.6 million
Kenosha Senior Living, a 37-unit assisted living facility in Kenosha, $3.55 million
The Shores of Sheboygan Assisted Living, a 67-unit assisted living facility in Sheboygan
Madison Pointe Senior Living, a 39-unit assisted living facility in Madison
Cottonwood Manor Assisted Living, a 30-unit assisted living facility in Green Bay, $1.45 million
Scandinavian Court Assisted Living, a 19-unit assisted living facility in Denmark, $692, 900
Harbor View Assisted Living, a 39-unit assisted living facility in Manitowoc
McFarland Villa Assisted Living, a 35-unit assisted living facility in McFarland
Willow Brooke Senior Living, a 82-unit assisted living facility in Stevens Point $7.35 million
Stoughton Meadows Assisted Living, a 39-unit assisted living facility in Stoughton
Meadow View Assisted Living, a 24-unit assisted living facility in Two Rivers
Mountain Terrace Senior Living, a 72-unit assisted living facility in Wausau, $5.45 million
Cranberry Court Assisted Living, a 40-unit assisted living facility in Wisconsin Rapids, $2.27 million
“With our ownership of this real estate, we are excited about deepening our commitment to the health care community in the great state of Wisconsin,” Christopher Christensen, Ensign's president and chief executive officer said in a statement. “We are especially thrilled for the experienced and dedicated teams at each of these operations, who are excited to continue their success for many years to come with the added certainty that comes from the ownership of the real estate.”
Christensen said Ensign will continue to acquire and retain real estate.
The company owns the underlying real estate in 50 of its 209 operations in 14 states.