Thursday, September 18, 2025
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Wisconsin

IndustrialLoansMidwestWisconsin

Associated Bank Provides $6.5M Acquisition Loan for Wisconsin Industrial Property

by Kristin Harlow

WAUKESHA, WIS. — Associated Bank has provided a $6.5 million loan for the acquisition of Ridgeview Industrial Center IV in Waukesha. The 89,405-square-foot building, constructed in 2003 and remodeled in 2023, is fully leased to two tenants. The property is located just off the intersection of I-94 and Redford Boulevard, with logistics access to I-41 and I-43. The borrower, Capital Partners, currently manages 16.2 million square feet of industrial properties. Randy Stille of Associated Bank handled the loan arrangements and closing.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Arranges Sale of 48-Unit Whitney Point Apartments in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — Marcus & Millichap has arranged the sale of Whitney Point Apartments in Madison for an undisclosed price. The property features 48 multifamily units and three retail suites. Located at 5414 Mineral Point Road on the city’s west side, the asset was built in 2020 as Phase I of a larger redevelopment plan. The site allows for a proposed Phase II that would add approximately 100 residential units and 8,250 square feet of retail space. Matthew Whiteside, Paul Rider and Don Schmidt of Marcus & Millichap represented the seller, Whitney Point Properties LLC, and procured the buyer, Whitney Point LLC.

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DevelopmentMidwestMultifamilyWisconsin

M&R Development Breaks Ground on 278-Unit Luxury Apartment Community in St. Francis, Wisconsin

by Kristin Harlow

ST. FRANCIS, WIS. — M&R Development has broken ground on a 278-unit luxury apartment complex on a bluff overlooking Lake Michigan in St. Francis, about five miles south of downtown Milwaukee. Named The Bluffs on Lake, the project will offer units ranging from studios to three bedrooms. M&R is co-developing the property with Campbell Capital Group LLC, the same firm it teamed with for the development of 42 Hundred on the Lake, a 236-unit luxury building just south of The Bluffs on Lake that opened in 2021. Located on a 21-acre site at 3700 S. Lake Drive, The Bluffs on Lake will comprise a four- and five-story building with one level of underground parking and 8,000 square feet of first-floor retail space, some of which is earmarked for a restaurant with outdoor seating. First deliveries are targeted for late 2026 with preleasing expected to start that fall. The project will feature a business center, meditation room, Zen Garden, self-service package room and two-level fitness center. A two-story clubhouse will include an entertainment lounge, coffee bar, media room, game room and pet spa. A main outdoor courtyard will comprise an infinity-edge pool, grilling stations and bocce ball court. A second courtyard …

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DevelopmentLoansMidwestMultifamilyRetailWisconsin

Associated Bank Provides $12.8M Loan for Redevelopment of Former Shopko Store Near Green Bay

by Kristin Harlow

DE PERE, WIS. — Associated Bank has provided a $12.8 million construction loan for a mixed-use redevelopment of 550 William Street in De Pere, just south of Green Bay. The project is on the site of a former Shopko store. Plans for the five-story development include 60 multifamily units and 7,900 square feet of commercial space on the first floor. The project is currently under construction, with completion slated for July 2026. The Shopko store closed six years ago. The project marks the first building of a multi-phase redevelopment plan, which includes a hotel, city-owned parking structure and another residential building. Tim Jorgensen of Associated Bank handled the loan arrangements and closing.

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DevelopmentMidwestOfficeWisconsin

Greiner Construction Breaks Ground on 10,000 SF Lumber Exchange Coworking Space in Hayward, Wisconsin

by Kristin Harlow

HAYWARD, WIS. — Greiner Construction has broken ground on The Lumber Exchange, a 10,000-square-foot coworking and gathering space at the corner of Main Street and Highway 63 in Hayward, a city in northwest Wisconsin. Designed to support local workers, entrepreneurs, creatives, nonprofits and community leaders in the area, the project replaces a commercial space that had been vacant for 15 years. The project site once hosted some of Hayward’s earliest landmarks, including the Pion Hotel, Giblin Hotel, Walker Hotel and the Hayward Building. The Lumber Exchange is expected to open in summer 2026. The Chequamegon Area Mountain Bike Association and the Sawyer County/Lac Courte Oreilles Economic Development Corp. have committed to long-term leases of office space within the building. The project will include flexible work areas, private offices, phone booths, conference rooms, event space, a coffee bar and second-level deck overlooking Main Street. The building will also host community programming, workshops and gatherings. The Lumber Exchange is the first commercial development for Carson Kipfer, whose background includes building companies in the technology arena for both the sports and insurance industries. Additional project team members include Cuningham and Spider Lake Trading.

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AcquisitionsMidwestMultifamilySeniors HousingWisconsin

Marcus & Millichap Brokers $9.5M Sale of Skilled Nursing Facility in Merrill, Wisconsin

by Kristin Harlow

MERRILL, WIS. — Marcus & Millichap has brokered the $9.5 million sale of Pine Crest Nursing Home facility in Merrill, a city in central Wisconsin. The 120-bed property is located at 2100 E. 6th St. Operated by North Central Health Care, the facility features 117 units, including 105 private rooms and 15 semi-private rooms. The asset has served the area for nearly 70 years with several phases of construction, including the recent addition of a memory care unit, rehabilitation center and special care units. Ray Giannini of Marcus & Millichap represented the seller and procured the buyer. The property is the only skilled nursing facility in Merrill and was 70 percent occupied at the time of sale, according to Giannini.

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AcquisitionsMidwestMultifamilyOfficeWisconsin

Marcus & Millichap Brokers $7.3M Sale of Apartment, Office Building in Marinette, Wisconsin

by Kristin Harlow

MARINETTE, WIS. — Marcus & Millichap has brokered the $7.3 million sale of Dunlap Square, a multifamily and office building in Marinette, a city in northeast Wisconsin. Built in 1920 and located at 1655 Ludington St., the property features 97 apartment units and 21 office suites. Dan Bowar of Marcus & Millichap represented the seller, Three Sixty Real Estate Solutions, and procured the buyer, Ruesch Management Inc. The buyer plans to renovate the unoccupied street-level retail space.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Brokers Sale of 90-Unit Apartment Property in De Pere, Wisconsin

by Kristin Harlow

DE PERE, WIS. — Marcus & Millichap has brokered the sale of Crow’s Nest Apartments, a 90-unit apartment property in De Pere near Green Bay. The sales price was undisclosed. Located along the Fox River and built in 1972, the asset features a mix of studio, one-, two- and three-bedroom units. Amenities include an indoor pool and sauna, resident lounge, updated laundry facilities and 96 underground parking spaces. Blake Hanlon and Mark Peltin of Marcus & Millichap represented the undisclosed seller and procured the buyer, the MLG Legacy Fund. The property was originally home to several Green Bay Packers players given its location across the river from Lambeau Field, according to Hanlon.

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HospitalityLoansMidwestWisconsin

Greysteel Arranges $14.9M Refinancing for Hilton Garden Inn Hotel in Green Bay, Wisconsin

by Kristin Harlow

GREEN BAY, WIS. — Greysteel has arranged a $14.9 million loan for the refinancing of the Hilton Garden Inn Green Bay, a recently renovated hotel in the heart of the Lambeau Field Stadium District. Developed in 2000 by Beechwood Hotel Group, the select-service property features 125 rooms. Beechwood has owned and operated the asset for more than 20 years. Fox Communities Credit Union provided the floating-rate loan. The refinancing was completed ahead of the property’s CMBS loan maturity.

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