January 11, 2024 –Elkhart Lake, Wi – Cedar Community’s Elkhart Lake assisted and independent living campuses – known as Cedar Bay and Cedar Landing has been acquired by Matter Development and its senior living operations partner Koru Health.
Nicole Pretre, Chief Executive Officer of Cedar Community, said, “After many months of thoughtful consideration and deliberation, our board of directors and executive leadership team concluded that campus-based services and resident engagement activities would be increased by partnering with Matter Development, an organization who not only shares our values and commitment to quality, but who is also growing its footprint in the local community.
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“Ultimately, this transition marks the ongoing pursuit of intentional and thoughtful efforts to provide services that are excellent in their mission-driven, resident-focus. Aligning with Matter Development and Koru Health provides an extraordinary opportunity to ensure that our friends and neighbors in Elkhart Lake are served well in the years to come.”
In July of last year, Matter Development also received approval from the City of Sheboygan, to develop a 187-unit senior living campus next to a new $70M Froedtert community hospital.
Cedar Community, with a rich history dating back to 1953, has been a provider of award-winning care and services for seniors aged 55 and better in Elkhart Lake since 2007.
Matter Development focuses on developing and revitalizing purposeful, lifestyle-forward, highly connected, and active housing. “While this acquisition is our first venture into Sheboygan County, it’s just the beginning. We’re proud to carry on the legacy Cedar Community set for this campus, and we are committed to making a lasting impact on the residents and the community through exceptional care, vibrant communities, and a future filled with exciting possibilities,” said Matter Development CEO, Aaron Matter.
Matter Development has a successful track record of developing, acquiring, and transitioning several other senior living communities alongside highly rated senior living operator, Koru Health. Koru Health will oversee daily operations at the Elkhart Lake campuses, leveraging their expertise from managing over a dozen senior living communities in Wisconsin and Minnesota.
Andy Lange, President and Founder of Koru Health, said, “We are excited to bring our expertise in operating senior living communities to Elkhart Lake, and we look forward to enhancing the quality of life for residents at Cedar Bay and Cedar Landing.”