BROWN DEER, WIS. — PPR Capital Management has acquired The Villas at Foxwood, a 232-unit townhome-style community in Brown Deer, approximately 11 miles north of Milwaukee. The property traded hands for $38.3 million. The acquisition marks the firm’s first investment in the Milwaukee Metropolitan Statistical Area.
The Villas at Foxwood spans 21 acres. Each residence features a private entrance, attached garage, fireplace and washer and dryer. PPR also plans to upgrade units with stainless steel appliances and new flooring.
The investment structure includes a total equity investment of $19.4 million, with PPR contributing over $18 million as the primary equity partner. PR worked alongside Archstone Capital as the General Partner. Harmoniq Residential is the co-GP and property manager for the community, which was built in 1990.