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.
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 …
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.
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.
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.
WAUSAU, WIS. — Marcus & Millichap has brokered the $15 million sale of The Apartments at Riverlife, a 75-unit multifamily property in central Wisconsin’s Wausau. Dan Bowar of Marcus & Millichap represented the seller, Riverlife Wausau LLC, and procured the buyer, a Wisconsin-based investor. Built in 2020, the property features a mix of one-, two- and three-bedroom units across 72,177 rentable square feet. The asset overlooks the Wisconsin River.
GERMANTOWN, WIS. — Zilber Property Group (ZPG) has unveiled plans to develop Zilber Industrial 7 within Germantown Gateway Corporate Park in Germantown, a northwest suburb of Milwaukee. The 252,000-square-foot speculative industrial facility will feature a clear height of 32 feet, 26 loading docks and two drive-in doors. Subject to final municipal approvals, construction is expected to begin this summer with delivery anticipated in winter 2026. Upon completion, ZPG will own and manage approximately 1.3 million square feet of industrial space in Germantown Gateway Corporate Park. The industrial park totals 140 acres and is positioned less than one mile east of the I-41 and Holy Hill Road interchange. Development began in 2018.
MADISON, WIS. — Moyer Properties has selected Nicholas & Associates, the construction management and general contracting arm of the Nicholas Family of Cos., to build Aster Flats, a 263-unit luxury apartment community in Madison. The three-building property will be situated on 4.9 acres. Nicholas & Associates will break ground Aug. 18, with construction taking place in phases. Completion is slated for February 2028. Designed by HKM Architects + Planners Inc., Aster Flats will offer studio, one-, two- and three-bedroom units ranging in size from 588 to 1,395 square feet. Amenities will include a clubhouse with a community lounge, entertainment kitchen and fitness and yoga center, a luxury pet spa, indoor bike room and an outdoor heated pool with a grilling terrace and courtyard area. Each of the three buildings will have one or two levels of heated indoor parking.
WISCONSIN — Hanley Investment Group Real Estate Advisors has arranged the off-market sale of three single-tenant retail properties occupied by O’Reilly Auto Parts in Wisconsin. Eric Wohl and CJ Kiehler of Hanley, in association with ParaSell Inc., represented the seller, a Montana-based development company. The three buildings each total around 7,000 square feet and are located in Oshkosh, Pulaski and Middleton within the Fox Valley and greater Madison trade areas. As of March 31, O’Reilly Auto Parts operated 6,644 stores across 48 U.S. states, Puerto Rico, Mexico and Canada.
Priority Capital Advisory Secures $11.5M Loan for Recapitalization of Wisconsin Multifamily Property
MADISON, WIS. — Priority Capital Advisory has secured an $11.5 million senior loan on behalf of REALM and OTR Real Estate for the recapitalization of Vivo Madison, a 153-unit multifamily property located at 517 Grand Canyon Drive in Madison. The joint venture acquired the property, which was a Radisson hotel at the time of acquisition, in April 2023 and converted the hotel into a multifamily asset. The main scope of work included adding kitchenettes in all units and building out common area amenities. The property received its multifamily Certificate of Occupancy in January 2026 and is currently 56 percent leased, with full occupancy anticipated by the end of this year. Vivo Madison features 147 studios and six one-bedroom units. Amenities include a clubhouse, indoor pool, fitness center, game room, coworking space, laundry facilities and outdoor lounge areas. The two-story asset is situated on 4.5 acres adjacent to University Research Park, a 1.8 million-square-foot life sciences and technology corporate campus. It is also a 10-minute drive from the University of Wisconsin-Madison and is within walking distance of West Towne Mall.
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