OGDEN & CO. ARRANGES SALE OF 71-UNIT ASSISTED LIVING FACILITY

RACINE, WIS. — The Commercial & Investment Division of Milwaukee-based Ogden & Co. has brokered the sale of a 71-unit assisted living facility located at 5737 Erie St. in Racine. John and Richard Coury of Elizabeth Residence and Ramsey Woods Residence, respectively, have acquired the property from Villa St. Anna Inc., a subsidiary of Franciscan Ministries Inc. The property is situated within the Wind Point area of the Village of Caledonia. The new owners, which have plans to operate a 50-unit community-based residential facility at the property, will renovate the existing building, enlarging the units, adding full bathrooms and expanding the living area. Additionally, the new owners have plans to construct a 24-unit residential care apartment complex at the approximately 4-acre site. Dave Nance of Ogden & Co. represented the seller; James Ried represented the buyer in the transaction. The acquisition price was not disclosed.