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Spaulding Group Lines Up Financing for Latest Southeast WI Acquisition
JLL Capital Markets arranged $21.25 million in acquisition financing for Six Points Apartments, a 178-unit, market-rate multi-housing community in downtown West Allis, WI, near Milwaukee. The team that represented the borrower, Spaulding Group, was led by senior director Brian Walsh.
The three-year, floating-rate loan was provided by Prime Finance. The loan will be used to acquire and renovate the property. The acquisition of Six Points is consistent with Spaulding Group’s thesis of investing in well-located, high-quality properties that offer both strong current income characteristics and long-term appreciation.
Built between 2007 and 2010, Six Points Apartments comprises one- and two-bedroom units. The community offers a luxury clubhouse with WiFi lounge, rooftop deck, heated underground parking, business center and fitness center.
“Lenders are drawn to Milwaukee’s steady growth characteristics,” Walsh said. “When coupled with Spaulding’s track record in Southeast Wisconsin and hands-on management strategy, it resulted in an extremely competitive financing process.”
- ◦Sale/Acquisition
- ◦Financing
