MILWAUKEE — CBRE has arranged the sale of Sage on Prospect, a 34-unit community in Milwaukee’s Lower East Side neighborhood. The asset traded for approximately $8.3 million. CBRE’s Sean Beuche, Matson Holbrook, Gretchen Richards and Patrick Gallagher represented the seller, locally based Dominion Properties in the transaction. Three Sixty Real Estate Solutions, headquartered in La Crosse, Wisconsin, was the buyer. Dominion Properties purchased the asset in 2014 and embarked on a redevelopment project that converted a 1961-built assisted living facility into a LEED Platinum-certified multifamily community. The redevelopment included the addition of two floors with balconies overlooking Lake Michigan. The redevelopment was complete in 2016. The property is comprised of one- and two-bedroom units.
Dominion Properties converted Sage on Prospect from a shuttered assisted living facility into a LEED Platinum-certified multifamily community during its hold period. Locally based Dominion has sold the Milwaukee asset to Three Sixty Real Estate Solutions for $8.3 million.
CBRE Arranges Sale of Sage on Prospect in Milwaukee
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