MENOMONEE FALLS, WIS. — A joint venture of Weas Development and Klein Development has obtained a $39.1 million construction takeout loan for Tennessen Flats, a 173-unit community developed in 2025 in Menomonee Falls, 16 miles northwest of Milwaukee. JLL arranged the floating-rate loan through an entity of Argentic Investment Management. Tennessen Flats comprises three four-story buildings and is complemented by two standalone retail buildings totaling 15,360 square feet. The community offers a mix of studio, one-, two- and three-bedroom units accompanied by amenities such as a resort-style pool, rooftop terraces with grilling stations, a fitness center, yoga studio and a resident lounge. Phil Galligan, Brian Walsh, Christian Johnston and Merrick Evans led JLL’s team.
Weas Development and Klein Development, owners of Tennessen Flats in Menomonee Falls, Wis., have secured $39.1 million in construction takeout financing from lender Argentic Investment Management. Tennessen Flats was developed in 2025.
JLL Arranges $39.1M Construction Takeout Loan for Joint Owners of Tennessen Flats in Metro Milwaukee
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