Updated Sep 3, 2026
Daniel Shaeffer Of Cottonwood Communities Acquires 271-Unit Park Lafayette Towers In Milwaukee For $94.1M
2036 North Prospect Avenue
$94,100,000
Units
271
Asset Type
MultiFamily
Closing
Aug 26, 2026
About this deal
AI
The property asset involved in the transaction is a 271-unit multi-family complex located at 2036 North Prospect Avenue in Milwaukee, WI. It was sold for a transaction price of $94,100,000, reflecting a price per unit of $347,232.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $94,100,000
- Units: 271
- Price Per Unit: $347,232
- Buyer: Daniel Shaeffer
- Buyer's Company: Cottonwood Communities
- Sale Date: 08/26/2026
- Market: Milwaukee, WI
Cottonwood Communities acquired the Park Lafayette Towers, marking the company's first acquisition in Wisconsin and one of the largest property sales in Milwaukee recently.
Mechanicsville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93