Wisconsin

MLG Capital Acquires Three Properties in Metro Milwaukee

by Channing Hamilton November 3, 2023

MILWAUKEE AND BROOKFIELD, WIS. — MLG Capital has acquired three communities — Trostel Square, Norhardt Crossing and Norhardt Apartments — in the Milwaukee metropolitan area for an undisclosed price. The seller and sales price were not provided. Trostel Square is a 99-unit property located in the Brewers Hill neighborhood of Milwaukee. Norhardt Crossing and Norhardt Apartments are both located in the Milwaukee suburb of Brookfield. Together, the two properties comprise 211 units and share a full amenity set at Norhardt Crossing.

November 3, 2023

Heyday Oak Creek in Oak Creek, Wisconsin

Build-to-Rent Development Midwest News Wisconsin

Heyday Breaks Ground on Build-to-Rent Community in Milwaukee Suburb

by Channing Hamilton September 29, 2023

OAK CREEK, WIS. — Heyday has broken ground on Heyday Oak Creek, a 130-unit build-to-rent community in the Milwaukee suburb of Oak Creek. Each unit features an attached two-car garage with personal electric vehicle charging outlets, as well as a private patio or covered porch. Floor plans come in one-, two- and three-bedroom layouts ranging from 832 to 1,701 square feet. Amenities include bike and walking paths, as well as a dog park and community garden.

September 29, 2023

A 3D render of Michigan Street Commons in Milwaukee.

Affordable Housing Development Finance Midwest News Wisconsin

Bear Real Estate Group Secures $20.6 Million in Construction Financing for Michigan Street Commons in Milwaukee

by Channing Hamilton May 3, 2023

MILWAUKEE — Bear Real Estate Group has secured $20.6 million in construction financing for the development of Michigan Street Commons, a 99-unit affordable community in Milwaukee. Cesar Diaz of NewPoint Real Estate Capital originated the loan, which is structured as a 4 percent tax-exempt bond financing. Three series of bonds were issued by the Wisconsin Housing & Economic Development Authority. Raymond James was the LIHTC equity syndicator. Michigan Street Commons will rise five stories and offer one- and two-bedroom floor plans. Approximately 30 percent of units will be affordable to …

May 3, 2023

Affordable Housing Finance Midwest News Wisconsin

NewPoint Provides $20.6 Million in Construction Financing for Affordable Development in Milwaukee

by Kari Lloyd March 8, 2023

MILWAUKEE — NewPoint Real Estate Capital has provided $20.6 million in construction financing for the development of Michigan Street Commons, a 99-unit affordable housing community in Milwaukee. Kenosha-based developer Bear Real Estate Group is developing the project, which is scheduled for completion in spring 2024. The loan was arranged by Cesar Diaz, a managing director at NewPoint, and structured as a NewPoint Impact 4 percent tax-exempt bond financing. Three series of bonds were issued by the Wisconsin Housing and Economic Development Authority. Raymond James was the LIHTC equity syndicator. Launched …

March 8, 2023

Bellview Manor Apartments in Milwaukee, Wis.

Investment Sales Midwest News Wisconsin

CBRE Arranges Sale of 784-Unit Portfolio in Metro Milwaukee

by Kari Lloyd February 7, 2023

MILWAUKEE — CBRE has arranged the sale of an 11-property portfolio totaling 784 units in metro Milwaukee for an undisclosed price. The portfolio includes: Sunburst Apartments and Howard Green Apartments in Greenfield; Newbury Place Apartments in Oak Creek; and 376 units across eight assets in Shorewood and Milwaukee. A 2,520-square-foot building leased to Einstein Bros. Bagels in Shorewood was also included in the sale. Patrick Gallagher, Matson Holbrook and Gretchen Richards of CBRE represented the seller, Blankstein Enterprises and several affiliated entities. Blankstein is a Milwaukee-based, family-owned investment and property …

February 7, 2023

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