In a major victory for subsidized housing developers and investors, the Wisconsin Supreme Court has reaffirmed longstanding principles governing the assessment of these properties. The Dec. 22, 2016 decision in Regency West Apartments LLC v. City of Racine confirms that the assessment of a subsidized housing project is a property-specific exercise that must take into account the type of federal program involved, specific restrictions on the property, and actual property income and..
SAUKVILLE, WIS. — Aquarius Technologies has signed a 21,740-square-foot industrial lease in Saukville, about 25 miles north of Milwaukee. The wastewater treatment solution company will occupy the property located at 420 Technology Way. Nick Keys of the Dickman Co. Inc. represented the tenant, while Stephen Provancher and Brett Garceau of NAI MLG Commercial represented the landlord, Technology Way LLP.
BROOKFIELD, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 40,427-square-foot industrial building in Brookfield. The property is located at 12745 W. Townsend St. Ryan Opportunity Investments LLC purchased the building from Favorite Son LLC for an undisclosed price. Samuel M. Dickman Jr., Samuel D. Dickman and TJ Huenerbein of Dickman brokered the transaction.
BEAVER DAM, WIS. — Shoe Sensation has signed a 7,240-square-foot retail lease at Heritage Village Mall in Beaver Dam, about 40 miles northeast of Madison. The property is located at 1645 N. Spring St. Joe Kleiman of Mid-America Real Estate-Wisconsin LLC represented the undisclosed landlord in the lease transaction.
MUSKEGO, WIS. — Heritage Senior Living will open its 16th community in Wisconsin in Muskego, about 20 miles southwest of Milwaukee, in summer 2018. Construction has begun on the two-story, 108,000-square-foot community, located on Janesville Road. The property will feature 108 units, consisting of 29 independent living apartments, 36 assisted and enhanced assisted living apartments and 43 memory care suites. Amenities at Heritage Muskego will include a therapy pool, therapy/rehab gym, two..
BROOKFIELD, WIS. — Capri Communities has signed a 13,211-square-foot office lease in Brookfield. The senior housing developer and operator will relocate from Waukesha to the new space at 20875 Crossroads Circle. Capri Communities will occupy the new office by June 1. Wayne Rappold of CBRE represented the tenant in the lease transaction, while Shaun Dempsey of Transwestern represented the landlord, KPK Eagle Investments LLC.
MADISON, WIS. — Waterton will manage the Sheraton Madison Hotel following the company’s recent sale of the property. The hotel’s new owner, DeFoor Brothers Development, purchased the property from a joint venture of Waterton and Marcus Hotels & Resorts, its previous manager. Located at 706 John Nolen Drive, the eight-story Sheraton is 2.5 miles from the University of Wisconsin-Madison campus. Built in 1972, the Sheraton will undergo a multimillion-dollar renovation that will update..
BROOKFIELD, WIS. — Marcus & Millichap has arranged the sale of Executive III office property in Brookfield for $3.3 million. The 55,863-square-foot, multi-tenant building is located at 125 N. Executive Drive adjacent to Brookfield Square Mall. Joe Powers and Frank Roti of Marcus & Millichap marketed the property on behalf of the seller, a loan servicer. The team also procured the buyer, a private investor based in Illinois.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 13,718-square-foot industrial building in Milwaukee. The sales price was not disclosed. The property is located at 5711 West Douglas Ave. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Hansen of the Dickman Co. represented the seller, Olympic Supply Co. Brett Deter and Joe Carollo of RFP Commercial represented the buyer, Bellot LLC.
MADISON, WIS. — KeyBank Real Estate Capital has provided an $11.3 million loan for the refinancing of The Villages, a 193-unit workforce housing community in Madison. The property is currently leased to tenants at rent levels that qualify as being affordable to people who make 60 percent or less of the area median income. Dirk Falardeau and Robert Ray of KeyBank arranged the 10-year loan through Fannie Mae. Sundance Bay Multifamily, the multifamily development affiliate of San Diego-based..