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 …
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 …
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