REBusinessOnline

Marcus & Millichap Arranges $3.1M Sale of Retail Property in Middleton, Wisconsin

MIDDLETON, WIS. — Marcus & Millichap has arranged the $3.1 million sale of Cornerstone Mall in Middleton, a northwest suburb of Madison. The 18,733-square-foot retail property is located at 2831 Parmenter St. and is 92 percent leased to tenants such as Hurts Donut Co. and Jet’s Pizza. Austin Weisenbeck, Sean Sharko and Marc Sitzer of Marcus & Millichap represented the seller, a Madison-based limited liability company. The buyer was

Brick by Brick Capital Acquires Historic Four Seasons Island Resort in Pembine, Wisconsin

PEMBINE, WIS. — An affiliate of Chicago-based Brick by Brick Capital, in partnership with tech-enabled hotel operator Life House, has acquired the historic Four Seasons Island Resort in the Northeast Wisconsin town of Pembine. The purchase price was undisclosed. The deal represents the first hotel in Wisconsin for both Brick by Brick and Life House, and the first of several planned acquisitions across the upper Midwest.Originally built in 1905 by the Wisconsin-Michigan Railroad Co., the …

Northmarq Provides $12.2M Freddie Mac Loan for Build-to-Rent Community in Oak Creek, Wisconsin

OAK CREEK, WIS. — Northmarq has provided $12.2 million in construction takeout financing for the recently completed first phase of Residences at Oak View in Oak Creek, just south of Milwaukee. The build-for-rent community, located at 10730 S. Howell Ave., includes 42 rental homes. Residents have access to a clubhouse with a fitness center, game room, community room and outdoor pool. The property was fully pre-leased within two months of the first home delivery and achieved occupancy …

Stan Johnson Co. Arranges $2.4M Sale of Property Net Leased to Sherwin-Williams in Milwaukee

MILWAUKEE — Stan Johnson Co. has arranged the sale of a 3,500-square-foot retail property net leased to Sherwin-Williams in Milwaukee for $2.4 million. The building is located at 1216 S. 1st St. and was constructed in 2018. Blaise Bennett of Stan Johnson represented the seller, a Wisconsin-based developer. A Texas-based private equity group was the buyer. The sales price represents a cap rate of 5.1 percent, a new record for a Sherwin-Williams property in the Midwest, according to Stan …

Associated Bank Provides $16.9M in Financing for Development of Affordable Housing Community Near Madison

MT. HOREB, WIS. — Associated Bank has provided a $16.9 million financing package for the development of Landsby Ridge, a 51-unit affordable housing community at 400 W. Garfield St. in Mt. Horeb, about 20 miles southwest of Madison. Gorman and Co. LLC and Impact Seven are the developers. Landsby Ridge will include 46 units for residents who earn 30 to 60 percent of the area median income (AMI) along with five units that will be rented at market rates. Lutheran Social Services and Impact Seven …

M&R Development Opens 270-Unit Luxury Apartment Complex in Madison, Wisconsin

MADISON, WIS. — M&R Development has opened Elevate, a 270-unit luxury apartment complex located at 5022 American Parkway in Madison. Elevate marks M&R’s second apartment project to open in Wisconsin this year, following the completion of 42 Hundred On The Lake in St. Francis this summer. Units at the four-story Elevate measure 590 to 1,254 square feet. Monthly rents range from $1,205 to $3,199.The centerpiece of the community is a two-story clubhouse, complete with an outdoor …

Founders 3 Brokers Sale-Leaseback of 146,560 SF Industrial Facility in Milwaukee

MILWAUKEE — Founders 3 Real Estate Services has brokered the sale-leaseback of a 146,560-square-foot industrial facility in Milwaukee for an undisclosed price. The property serves as a processing plant for tenant Klement’s Sausage Co. The facility features climate-controlled manufacturing space as well as significant cold and freezer storage space. Klement’s has occupied the building since its construction in 1989. Since then, the property has gone through extensive renovations and …

JVM Realty Acquires 480-Unit Luxury Apartment Complex in Kenosha, Wisconsin

KENOSHA, WIS. — JVM Realty Corp. has acquired The Reserve at Kenosha, a 480-unit luxury apartment complex in the southeastern Wisconsin town of Kenosha. The purchase price was undisclosed. The property includes 23 buildings across 68 acres. Amenities include two fitness centers, two pools, two car care centers, three dog parks, a pet spa and full-service kitchen. Formerly known as The Springs at Kenosha, the property’s final phase was completed in 2020. JVM’s central region team will …

Physicians Realty Trust Agrees to Acquire Medical Office Portfolio for $764.3M

MILWAUKEE — Physicians Realty Trust (NYSE: DOC), through its operating partnership Physicians Realty LP, has agreed to acquire a 15-building medical office portfolio for $764.3 million. The Class A buildings are located in eight states and comprise approximately 1.4 million square feet. The portfolio is roughly 95 percent leased. Each of the buildings are either located on a health system campus or are affiliated with a health system. The transaction is expected to close before the end of the …

Dwight Capital Provides $22.7M HUD-Insured Loan for Refinancing of Wisconsin Apartment Complex

FITCHBURG, WIS. — Dwight Capital has provided a $22.7 million HUD-insured loan for the refinancing of The Fairways Apartments in Fitchburg, a southern suburb of Madison. The 369-unit apartment complex is comprised of 14 buildings and is situated on Nine Springs Golf Course. Amenities include a pool, common areas and two tennis courts. Brandon Baksh of Dwight originated the loan, which benefited from a Green Mortgage Insurance Premium reduction set at 25 basis points because the property is …

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