Senior Living Investment Brokerage closed the sale of four skilled nursing facilities with three seniors housing communities in Chetek, Black River Falls, Bloomer and Octonto Falls, Wisconsin.
The transaction totaled 349 beds.
The Atrium portfolio was placed into receivership in September of 2018 when for a for-profit owner/operator based in the East Coast was unable to fulfill its financial obligations. Senior Living Investment Brokerage was hired by a Wisconsin-based receiver to solicit offers.
The court approved the sale on Nov. 11. The buyer is a regional-based owner/operator headquartered in Illinois. It operates other seniors communities in Wisconsin and the Midwest.
Jason Punzel and Ryan Saul of Senior Living Investment Brokerage handled the transaction.