MILWAUKEE — JLL Capital Markets has arranged $98 million for the refinancing of Ascent MKE, a 25-story high-rise community in Milwaukee. JLL worked on behalf of the borrower, an affiliate of New Land Enterprises, to secure the three-year, floating-rate loan through Barings Real Estate. Tim Joyce, Trent Niederberger, Mike Brady, Ryan Sullivan and Michael Gurwin led the JLL Capital Markets Debt Advisory team.
Ascent MKE was built in 2022. The property offers 259 units in one-, two- and three-bedroom layouts. Units average 1,055 square feet in size and include smart home technology, granite countertops, in-unit washers and dryer, floor-to-ceiling windows, stainless steel appliances, heated floors and private balconies and patios. Community amenities include two rooftop decks, a fitness center, golf and multi-sport simulator, business center, rooftop cinema, EV chargers, an indoor/outdoor pool, rooftop bar, dog park and game room. The property also includes a 330-space parking garage and 7,000 square feet of ground-floor retail space.