BROOKFIELD, WIS. — Brookfield-based investment firm MLG Capital has appointed Billy Fox to the position of president and principal. Additionally, the company promoted Dan Price to the role of Chief Investment Officer (CIO) and principal. Fox has been with MLG for 10 years and currently leads the firm’s Legacy Fund. As president, he will lead team building efforts, investment strategy and overall client experience. He will continue to serve on the company’s investment committee. Price has worked with MLG for four years. He currently leads the firm’s Midwest acquisition team …
FITCHBURG, WIS. — CBRE has arranged the sale of The Pines and The Fairways, two properties totaling 674 units in Fitchburg, a southern suburb of Madison. FPA Multifamily LLC purchased the assets from E.J. Plesko & Associates Inc. affiliated entities for an undisclosed price. CBRE’s Gretchen Richards, Patrick Gallagher, Matson Holbrook, Sean Beuche, Abe Appert, Keith Collins and Ted Abramson represented the seller. The Pines is located at 2302 High Ridge Trail near the southeastern end of Nine Springs Golf & Disc Golf Course. Built in 1978, the 305-unit property …
MILWAUKEE — Madison, Wisconsin-based developer The Neutral Project has secured $133.3 million in construction financing for The Edison, a 378-unit project located at 1005 North Edison St. in Milwaukee. Mike Brady, Tara Hagerty and Merrick Evans of JLL Capital Markets arranged the senior financing through Bank OZK and the mezzanine financing through Pearlmark. The Edison will include 308,913 square feet of rentable residential space across 32 stories. The community will offer studio, one-, two- and three-bedroom apartments. Residents will have access to amenities such as a café, fitness center, pool …
MADISON, WIS. — Vermilion Development will develop Lock Lane Apartments, a 309-unit project located on an 8.5-acre site in Madison. McShane Construction Co. will construct the property. Potter Lawson is the project architect. JLL arranged equity capital through Quartz Lake Capital and Clarion Partners. CIBC is providing construction financing. Lock Lane Apartments will consist of two five-story buildings that house 289 apartments, as well as three two-story townhome buildings with 20 units. The property will also include a two-level parking garage. Planned amenities include green roof areas, fitness centers, clubrooms, …
GREEN BAY, WIS. — A partnership between Gorman & Co. and the Lutheran Social Services of Wisconsin and Upper Michigan (LSS) has completed Bay City Lofts, a 48-unit affordable and supportive housing community in Green Bay. The property is located at 2510 University Ave. Of the total unit count, 40 are set aside for tenants earning between 30 and 60 percent of the area median income. The remaining eight units are market rate. Amenities include a community room, fitness center and onsite offices for LSS, which will provide supportive services …
MADISON, WIS. — CBRE has brokered the sale of Royster Commons and 515@Royster, two properties totaling 174 units in Madison. Weidner Apartment Homes purchased the assets from Ruedebusch Development & Construction for $34 million. Royster Commons was built in 2019 and features 86 apartments. The average unit size is 956 square feet. Built in 2022, 515@Royster comprises 88 units with an average size of 761 square feet. Gretchen Richards, Patrick Gallagher, Matson Holbrook and Ted Nevermann of CBRE represented the seller in the deal. CBRE also provided acquisition financing for …
FITCHBURG, WIS. — Marcus & Millichap (NYSE: MMI) has negotiated the sale of Sun Valley Apartments, a 204-unit community in the Madison, Wisconsin suburb of Fitchburg. Matthew Whiteside of Marcus & Millichap’s Milwaukee office represented the seller, Sierra West LLC and procured the buyer, Monarch Investment and Management Group. Sun Valley Apartments was built in 1975 and renovated in 2011. The complex consists of 12 buildings on a 12-acre site. Amenities include a fitness center, leasing office, playground and green spaces. The property is situated adjacent to the Nevin Springs …
MADISON, WIS. — A joint venture between Vermilion Development and Quartz Lake Capital has secured $95 million in debt and equity financing for a 309-unit development located at 1617 Sherman Ave. in Madison. JLL Capital Markets negotiated $33.3 million in joint venture equity for the project through Clarion Partners. 1617 Sherman will comprise six buildings featuring apartments and townhome-style units. The average unit size is 793 square feet. Community amenities will include a fitness center, bike storage, pet spa, coworking space, breakout rooms, community garden and a rooftop terrace featuring …
MADISON AND MILWAUKEE, WIS. — A court-appointed receiver has retained Affordable Housing Investment Brokerage (AHIB) to secure new ownership for portions of Heartland Housing’s Wisconsin portfolio. Heartland Housing was an affordable housing developer and a subsidiary of Heartland Alliance. The non-profit developer went out of business in 2023. The portfolio comprises 166 affordable housing units across five properties in Madison and Milwaukee. Cinnaire Solutions acquired the two properties in Madison, Rethke Terrace and Tree Lane Apartments. Rethke Terrace was built in 2016 and comprises 60 units. Tree Lane Apartments is …
BROOKFIELD, WIS. — McShane Construction Co. will serve as the general contractor for Bishops Woods, a 203-unit affordable housing community in the western Milwaukee suburb of Brookfield. The development is situated on nearly four acres at 350 Bishops Way. Plans call for a four-story, podium-style building atop a two-story, underground parking garage. Knothe & Bruce Architects is the project architect. Bishops Woods will offer one-, two- and three-bedroom floor plans. Amenities will include a clubroom, fitness center, outdoor grill area and playground. The community will be available to households earning …
Newer Posts