BEAVER DAM and WAUPUN, Wis. — KeyBank Real Estate Capital has provided a $12.8 million FHA refinancing for a two-property assisted living portfolio in Wisconsin.
Prairie Ridge at Beaver Dam, located in Beaver Dam, was built in 1998 and renovated in 2010. It features 27 assisted living units. Prairie Ridge at Waupun totals 47 assisted living units and is located in Waupun. The property was built in 1999 with an addition built in 2008.
The two properties are located approximately 15 miles apart, midway between Green Bay and Milwaukee. The borrower was Michael Eisenga, who owns both facilities.
John Randolph of Key’s Commercial Mortgage Group arranged the financing, which was used to pay off existing debt on the property.