FRANKLIN AND WAUKESHA, WIS. — BMO’s Healthcare Real Estate Group has provided a $70.6 million bridge loan for the recapitalization of two senior living communities totaling 290 units in Franklin and Waukesha. The borrower is a joint venture between New Perspective Senior Living, Boldt Capital and Fengate Asset Management. Loan proceeds include capital allocated for future improvements and value enhancement.
OAK CREEK, WIS. — Illinois-based developer Heyday has opened Heyday Oak Creek, a 130-unit build-to-rent community in the Milwaukee suburb of Oak Creek. The property consists of single-family attached rental homes averaging 1,350 square feet. High-speed electric vehicle charging outlets are installed in every garage. Residents have access to outdoor spaces. Daniel Management Group will manage and market the property for lease.
MILWAUKEE — Marcus & Millichap has negotiated the $3.6 million sale of Grand Riverside Residences in Milwaukee’s Third Ward. The building features 16 apartment units and two retail spaces. Located at 225-229 N. Water St., the property was originally constructed in 1900 and renovated in 2006. The retail spaces are home to Sevva Salon and fitness studio Barre3. Matthew Whiteside of Marcus & Millichap represented the buyer and seller, neither of which were disclosed.
KENOSHA, WIS. — Legacy Realty Group Advisors LLC has arranged the $27.6 million sale of Plaza 50, a 199,217-square-foot shopping center in Kenosha. The property is home to tenants such as Burlington, Marshalls, Ross Dress for Less and Pick ‘n Save. Jacob Baruch, Daniel Baruch and Jonah Warshaw of Legacy represented the buyer and seller, neither of which were disclosed.
MADISON, WIS. — Planet Fitness has signed a 37,121-square-foot retail lease at West Towne Mall in Madison. Tony Colvin and Adam Dreier of Mid-America Real Estate-Wisconsin LLC represented the tenant. The landlord was an entity doing business as Madison/West Towne LLC.
MINNESOTA AND WISCONSIN — Transwestern Real Estate Services has arranged the sale of a three-property medical office portfolio totaling 50,853 square feet in Minnesota and Wisconsin. The sales price was undisclosed. The first building is 2380 Rosemary Way in Lino Lakes, Minn. The property totals 12,411 square feet. The second asset is 525 N. Knowles Ave. in New Richmond, Wis. The building totals 19,537 square feet. Also in the portfolio is 2950 Curve Crest Blvd. in Stillwater, Minn. The property totals 18,905 square feet. All of the buildings are fully leased. Frank Richie, Mike Salmen and Erik Coglianese of Transwestern represented the buyer, Hammes Partners. Dean Williamson and Ross Hedlund of Frauenshuh Inc. represented the seller on an internal basis.
MADISON, WIS. — McShane Construction Co. will build Canyons, a 60-unit affordable housing community in Madison. Lincoln Avenue Communities is the developer. The four-story project will be constructed atop a concrete parking garage. The property will feature 3,750 square feet of amenity space, including a fitness center, laundry room, mail room and clubroom. The project is designed to achieve Wisconsin Green Built Homes Gold Certification and EnergyStar Multifamily Certification with a solar panel system on the roof to offset electricity costs for the common areas. Completion is slated for June 2025. Knothe & Bruce Architects is the project architect.
GREEN BAY, WIS. — NAI Pfefferle has brokered the sale of a 39,548-square-foot industrial building located at 1836 Sal St. in Green Bay. The sales price was undisclosed, but the asking price was $1.6 million. John Roberts of NAI Pfefferle arranged the sale. Bartlett Capital Group was the buyer.
BROOKFIELD, WIS. — Common Ground Healthcare Cooperative has leased 19,675 square feet of office space at Executive Center V in the Milwaukee suburb of Brookfield. The property is located at 300 N. Executive Drive. Ned Purtell and Andy Hess of Founders 3 Real Estate Services represented the tenant, which expects to take occupancy June 1.
HIGHBRIDGE, WIS. — NAI Pfefferle has brokered the sale of a 135-unit self-storage facility in Highbridge, a city in northern Wisconsin. While the sales price was undisclosed, the asking price was $1.5 million. The 31,040-square-foot property is located at 38147 State Highway 13. Jonathan Glassco of NAI Pfefferle and Scott Rihm of EquiCap Commercial brokered the transaction. Buyer and seller information was not provided.