MILWAUKEE — Midloch Investment Partners has acquired The Malt House in Milwaukee in a joint venture with Hempel Real Estate for $19.2 million. Brad Smith, Jack Maloney and Anna Lovell of Cushman & Wakefield in Chicago arranged the transaction. The buyers secured a new mortgage loan from Landmark Credit Union. Harmoniq Residential, based in Milwaukee, will manage and lease The Malt House. The seller was not disclosed by Midloch, but media reports indicate Whitestone Capital was the previous owner.
Originally constructed in 1882 for the Pabst Brewing Co., The Malt House is a 118-unit brick building in the historic downtown Pabst District. It was converted to a multifamily property between 2016 and 2021. Amenities include a fitness center, package room, movie screening room, coworking lounge, game room and rooftop deck.