MANITOWOC, WIS. — MBH Investment Real Estate LLC has arranged the sale of Meadowbrook Apartments in Manitowoc, in eastern Wisconsin, for $3.4 million. The 94-unit apartment property is located at 1704 Meadowbrook Drive. The complex features seven two-story buildings consisting of one- and two-bedroom units. The property was constructed in the late 1970s. Amenities include patios, a picnic pavilion, storage units and 40 garage parking spaces. The property was approximately 85 percent occupied at the time of sale. A private partnership of TW Meadowbrook LLC and CD Meadowbrook LLC purchased the property. Matson Holbrook of MBH brokered the transaction on behalf of the seller, Doneff Asset Co. LLC.
NEW BERLIN, WIS. — Grandbridge Real Estate Capital has arranged a $4.7 million loan for the refinancing of an industrial property in New Berlin near Milwaukee. The building consists of 80,720 square feet and sits on approximately seven acres. The 15-year, fixed-rate loan includes a 15-year amortization schedule. An insurance company provided the capital.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has brokered the sale of an 11,400-square-foot industrial building in Milwaukee. The building is located at 2330 W. Clyburn Ave. The buyers, Evan Hughes and William P. McQuillan, purchased the building from 6211 Church Road Property LP. TJ Huenerbein of the Dickman Co. represented the buyers.
MILWAUKEE — Wireless Vision LLC has signed a 3,125-square-foot office lease in Milwaukee. The T-Mobile retailer will be located at 905 S. Cesar Chavez Drive. Sean Osborne of Colliers International brokered the lease transaction.
MILWAUKEE — Unique Delivery Service Inc. has signed a 27,000-square-foot industrial lease in Milwaukee. The courier service company will occupy the building located at 4122 S. 13th St. Jonas Family Limited Partnership was the landlord. TJ Huenerbein and Cale Berg of the Dickman Co. Inc. brokered the lease transaction.
PLEASANT PRAIRIE, WIS. — DoubleTree by Hilton Pleasant Prairie Kenosha has reopened after undergoing a $3.5 million renovation. The hotel is located at 11800 108th St. in Pleasant Prairie. The conversion and renovation of the 120-room hotel includes upgrades to the guest rooms, meeting spaces and public spaces, including the lobby, business center, fitness center and pool area. The hotel also includes an on-site restaurant and bar, The Chancery Bar & Grill. Business meetings and events accommodating up to 500 attendees can be held in the hotel’s 5,500 square feet of meeting and banquet facility space. The property is owned by Varin Realty LLC and managed by First Hospitality Group Inc.
BELOIT, WIS. — Staples has leased 136,000 square feet of industrial space at 1 Reynolds Drive in Beloit in southern Wisconsin. The company plans to relocate its larger bulk items to the new space, freeing up much-needed space at its distribution center in the Gateway Business Park also in Beloit. Staples will join TreeHouse Foods Inc., Axium Foods and Serta Mattress Co. at the 422,700-square-foot building. Only 18,000 square feet remain vacant and available for lease. Bill Mears of Coldwell Banker Commercial McGuire Mears & Associates is the listing broker for the property. Mears represented the landlord, Todd Kaiser, in the transaction. Chase Brieman of CBRE represented Staples.
MILWAUKEE — Walker & Dunlop Inc. has negotiated an $11.7 million loan for the refinancing of the Supreme Apartment Portfolio, a six-property portfolio located in Wisconsin. Constructed between 1988 and 1993, the properties consist of 340 garden-style units. The properties include: Greenfield Park in Greenfield, Parkway South in Milwaukee, River Park in Oconomowoc and Orchard Park, Central Park and Parkway Central in West Allis. Matt Ewig, Jeff Robbins and Luke Erlandson of Walker & Dunlop originated the loan with a life insurance company for the borrower, Supreme Builders.
MILWAUKEE — Kleen Test Products Corp. has signed a 20,000-square-foot industrial lease at 5200 W. Clinton Ave. in Milwaukee. The landlord was TJW Plant3 LLC. TJ Huenerbein, Nick Keys, Samuel D. Dickman and Samuel M. Dickman Jr. of the Dickman Co. Inc./CORFAC International brokered the transaction. Kleen Test Products manufactures wet wipes, dryer sheets, liquids, pads, lotions, soaps and confectionery products.
NEW LONDON, WIS. — Associated Bank has arranged $10 million in financing for the construction of Beacon Avenue Cottages, an affordable housing project in New London, about 25 miles northeast of Appleton. The property will consist of 40 apartment units in five cottage-style buildings at 580 Freemont St. The property will include a mix of two- and three-bedroom units, each with its own entrance and garage. Amenities will include a clubhouse, fitness center and laundry room. Completion is slated for spring 2018. Commonwealth Development Corp. is developing the project. Associated Bank provided a $4.7 million construction loan. In addition to the loan, $4.9 million was obtained in low-income housing tax credit equity and $510,000 was funded through an Affordable Housing Program grant. Bryan Schreiter of Associated Bank originated the loan, while Michael McGovern of Associated Bank managed the equity investment through a National Equity Fund Inc. proprietary fund.