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Weidner Apartment Homes Acquires Multifamily Properties In Milwaukee For $53M

Property Image
SOLD
$53,000,000
Wick Kirby
Amanda Friant
Jaime Fink

Wisconsin

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MultiFamily
Sold
the dealplayerscompscontact
Property Image
SOLD

Weidner Apartment Homes Acquires Multifamily Properties In Milwaukee For $53M

1303 N 10th St, Milwaukee, WI, USA

See Similar Deals
MultiFamily
Sold
Wick Kirby
Amanda Friant
Jaime Fink
the dealplayerscompscontact
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Summary

WISCONSIN
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 1303 North 10th St. & 926 West Juneau Ave in Milwaukee, Wisconsin has been sold for a total price of $53,000,000. The property consists of 274 units, resulting in a price per unit of $193,431. The sale was completed on July 28, 2021.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $53,000,000
  • Units: 274
  • Price Per Unit (PPU): $193,431

The buyer of the property is Weidner Apartment Homes, while the sellers are Milhaus Development and The Davis Companies. The sale was facilitated by Wick Kirby, Amanda Friant, and Jaime Fink of JLL Capital Markets.

Players

Jaime Fink
JLL
Jaime Fink
21 deals$759.9M volume
BROKER
Wick Kirby
JLL
Wick Kirby
3 deals$141.9M volume
BROKER
Amanda Friant
JLL
Amanda Friant
4 deals$157.4M volume
BROKER
Weidner Apartment Homes
Weidner Apartment Homes
BUYER
The Davis Companies
The Davis Companies
SELLER
MD
Milhaus Development
SELLER

Details

SOLD
IMAGE: Jaime Fink, Wick Kirby & Amanda Friant DATE: 07/28/2021 ADDRESS: 1303 North 10th St. & 926 West Juneau Ave MARKET: Milwaukee, Wisconsin ASSET TYPE: Multifamily BUYER: Weidner Apartment Homes SELLER: Milhaus Development & The Davis Companies BROKERS: Wick Kirby, Amanda Friant & Jaime Fink - JLL Capital Markets SALE PRICE: $53,000,000 UNITS: 274 ~ PPU: $193,431

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,826,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$188,297.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$251,247.04
Annual Debt Service$3,014,964.47