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CBRE Arranges Sale of $30M Milwaukee Multifamily Portfolio
CBRE has arranged the sale of a four-property, 358-unit multifamily portfolio located in Milwaukee.
Brookfield, Wisconsin-based Coachlight Communities LLC purchased the portfolio from Milwaukee-based Metropolitan Associates for $29.65 million. CBRE’s Matson Holbrook, Gretchen Richards, Sean Beuche and Patrick Gallagher represented the seller in the transaction.
The portfolio includes four garden-style properties totaling 358 units located within a three-mile radius in the Northwest Milwaukee submarket. Each property offers a range of unit types and amenities, including parking, laundry facilities, community spaces and patios/balconies for most units.
“Metropolitan Associates had owned this portfolio since originally developing the properties in the 1960s,” said Holbrook. “The market responded quickly and aggressively to this once-in-a-generation investment opportunity.”
The portfolio provides convenient access to Interstate 41 and is situated near several retail and employment amenities, as well as a local workforce anchored by manufacturing and distribution employers.
