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AcquisitionsMidwestMultifamilyWisconsin

Greysteel Arranges $18.1M Sale of Multifamily Community in Metro Milwaukee

by Kristin Harlow

CUDAHY, WIS. — Greysteel has arranged the $18.1 million sale of Cudahy Commons, a 142-unit multifamily property at 2810 E. Edgerton Ave. in the Milwaukee suburb of Cudahy. BJ Connolly, Doug Banerjee and Ryan Carter of Greysteel represented the seller, a private investor. Peak Capital acquired the asset. According to Greysteel’s newly released “Mid-Year 2026 Investor Sentiment Pulse Check,” 84 percent of respondents plan to increase their Midwest multifamily exposure over the next 12 to 18 months.

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AcquisitionsHospitalityMidwestWisconsin

Hunter Advisors Negotiates Sale of 196-Room Renaissance Milwaukee West Hotel

by Kristin Harlow

WAUWATOSA, WIS. — Hunter Advisors has negotiated the sale of the Renaissance Milwaukee West Hotel, a 196-room property in Wauwatosa, about 10 miles west of downtown Milwaukee. Spencer Davidson of Hunter brokered the transaction. Chicago-based Witness Investment was the buyer. Built in 2020 and located at 2300 N. Mayfair Road, the 12-story hotel sits adjacent to Mayfair Mall. The property features 9,864 square feet of flexible meeting and event space, the ELDR+RIME Restaurant, the Silhouette Lobby Lounge and a 12th-floor fitness center.

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Affordable HousingDevelopmentMidwestMultifamilyWisconsin

McShane to Build 52-Unit Affordable Housing Community in Portage, Wisconsin

by Kristin Harlow

PORTAGE, WIS. — Impact Seven, in partnership with Harmony Housing Partners, has selected McShane Construction Co. to build River Crossing, a 52-unit affordable housing community in Portage. Positioned on a 2-acre site at 2941 Hunters Trail, the development will consist of a podium-style building atop a one-level underground parking garage with 52 spaces. A portion of the units will accommodate adults with disabilities. Residents will have access to 13,000 square feet of amenities, including a community room, quiet lounge, media room, pet spa, fitness center and storage lockers. Completion is slated for October 2027. Continuum Architects + Planners is the architect, and General Engineering Co. is the civil engineer.

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AcquisitionsMidwestMultifamilyWisconsin

Northmarq Brokers $31M Sale of Multifamily Property in Sheboygan, Wisconsin

by Kristin Harlow

SHEBOYGAN, WIS. — Northmarq has brokered the $31 million sale of Harbor Estates, a 186-unit multifamily property in Sheboygan, which is north of Milwaukee. Alex Malzone, Jake Lamb, Parker Stewart and Dominic Martinez of Northmarq represented the seller, a partnership between Harmoniq Residential and Midloch Investment Partners. Built in 2002, Harbor Estates offers a mix of one-, two- and three-bedroom units. Amenities include a clubhouse, fitness center, putting green, underground parking and a pool.

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AcquisitionsMidwestMultifamilyWisconsin

CBRE Negotiates $3.9M Sale of Riverwood Apartments in Mauston, Wisconsin

by Kristin Harlow

MAUSTON, WIS. — CBRE has negotiated the $3.9 million sale of Riverwood Apartments in Mauston, about 70 miles northwest of Madison. The 32-unit multifamily community was fully leased at the time of sale. The property consists of four buildings on 3.2 acres along the Lemonweir River. Built in 1994, Riverwood Apartments offers units ranging from 575 to 1,000 square feet. CBRE’s Sean Beuche, Max Colby, Matson Holbrook and Gretchen Richards represented the seller, Riverwood Apartments LLC. The buyer was Tripp & Associates.

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AcquisitionsIllinoisMidwestOhioRetailWisconsin

Quantum Brokers Sale of 67,000 SF Retail Portfolio Across Three Midwest States

by Kristin Harlow

ILLINOIS, OHIO AND WISCONSIN — Quantum Real Estate Advisors Inc. has brokered the sale of a five-property retail portfolio totaling roughly 67,000 square feet. The centers are located in Aurora, Illinois; Milford and South Lebanon, Ohio; and Appleton and Kenosha, Wis. Dan Waszak and Brett Berlin of Quantum represented the seller, a private syndicator based on the East Coast. The buyer was a global real estate investment manager focused on acquiring niche property types, including essential service retail.

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DevelopmentMidwestMultifamilyWisconsin

Irgens Breaks Ground on 204-Unit Viridia Apartments in Wauwatosa, Wisconsin

by Kristin Harlow

WAUWATOSA, WIS. — Irgens has broken ground on Viridia Apartments, the company’s first multifamily development, at 10600 W. Wisconsin Ave. in Wauwatosa. The four-story, 204-unit market-rate community will serve as the final component of a larger, 14-acre mixed-use redevelopment by Irgens in the Milwaukee County Research Park. The name Viridia is derived from the Latin word “viridis,” symbolizing nature, growth, renewal and vitality. The property will include a mix of studio, one-, two- and three-bedroom units. Planned amenities include a pool, underground heated parking, a clubroom, fitness center, yoga studio, coworking spaces, a pet run and adjacency to walking trails and a public park. Initial occupancy is slated for November 2027. Irgen’s mixed-use development began with the acquisition, redevelopment and repurposing of a former United Healthcare office building in Milwaukee County Research Park. Additional development on the site includes the revitalized office building, a fully leased retail building and a medical office building. When complete, the development is expected to be valued at more than $100 million. Viridia Apartments is financed with lending from Fifth Third Bank, tax-increment financing from the City of Wauwatosa and equity funding from private investors. The project team includes EUA as architect, Greenfire as general …

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Brokers $15M Sale of Multifamily Property in Schofield, Wisconsin

by Kristin Harlow

SCHOFIELD, WIS. — Marcus & Millichap has brokered the $15 million sale of Schofield Mill Apartments, an 84-unit multifamily property in Schofield within central Wisconsin. The property is situated on 1.5 acres along the Eau Claire River. Built in 2022, the community features a mix of one-, two- and three-bedroom floor plans across roughly 100,000 rentable square feet. Dan Bowar of Marcus & Millichap represented the seller, Schofield Mill Apartments LLC, and procured the buyer, a Wisconsin-based investor.

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DevelopmentLoansMidwestMultifamilyWisconsin

MMCC Arranges $16.5M in Construction Financing for Green Bay Multifamily Project

by Kristin Harlow

GREEN BAY, WIS. — Marcus & Millichap Capital Corp. (MMCC) has arranged $16.5 million in construction financing for Common Place Phase II, a 91-unit multifamily property with a first-floor retail unit located within walking distance of Lambeau Stadium at 670 Mike McCarthy Way in Green Bay. Robert Bhat of MMCC secured the financing through a local bank. The loan features an 80 percent loan-to-cost ratio, five-year term and 6.25 percent interest rate. Construction commenced in June. Plans call for a mix of studios, one-bedroom units and two-bedroom units designed to complement the adjacent Phase I development.

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Affordable HousingDevelopmentMidwestMultifamilyWisconsin

McShane to Build 93-Unit Affordable Housing Community in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — Lincoln Avenue Communities has selected McShane Construction Co. to build Timberline Terrace, a 93-unit affordable housing community in Madison. The podium-style building will feature five wood-framed stories atop a below-grade precast garage. Timberline Terrace will offer one-, two- and three-bedroom units with one to two bathrooms. Amenities will include a 4,000-square-foot plaza with a playground and grill stations, as well as a playroom, community room, lounge, community service space and fitness area. The development is designed to achieve Wisconsin Green Built Homes Gold Zero certification and will incorporate a solar array on the roof, high-efficiency heat pumps and upgraded performance windows. Completion is slated for fall 2027. Knothe & Bruce Architects is the architect, and The Sigma Group is the civil engineer.

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