Pearlmark Receives $7M Loan for Refinancing of Apartment Community in Suburban Milwaukee

BROOKFIELD, WIS. — Pearlmark has received a $7 million mezzanine loan for the refinancing of The Ruby at Brookfield Square, a 231-unit apartment community in the Milwaukee suburb of Brookfield. The property is part of the larger mixed-use development, Brookfield Square, which is a redevelopment of a shopping mall completed in September 2023. The community consists of two four-story buildings connected by a skybridge. Amenities include a pool, golf simulator, fitness studio, lounge, game room, coworking spaces, storage units and a pet spa. Värde Partners provided the senior loan on behalf of Pearlmark Mezzanine Realty Partners V LP. Mark Witt of Pearlmark arranged the financing. Wingspan Development Group was the developer of the property.