Cushman & Wakefield Brokers $18.7M Multifamily Sale in Suburban Milwaukee
WAUKESHA, WIS. — Cushman & Wakefield has brokered the sale of Springdale Apartments in Waukesha for $18.7 million. The three-story, 199-unit multifamily property is located at 2415 Springdale Road. Developed in 1973, the community houses a mix of one-, two- and three-bedroom units averaging 920 square feet. The property was nearly fully leased at the time of sale. Brad Smith of Cushman & Wakefield represented the seller, Milwaukee-based Trike Property Management. Janesville-based Spaulding Group purchased the asset. Prior to the sale, Trike completed renovations to 20 of the units. Spaulding plans to continue upgrading both the units and common areas.