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IPC Sells Three Milwaukee-Area MF Communities
Inland Private Capital Corporation (IPC) has sold three multifamily communities in Milwaukee and Brookfield, Wisconsin. IPC, through its subsidiaries, which serve as asset managers, facilitated the sale of the properties on behalf of Milwaukee MSA Multifamily Portfolio DST, one of IPC’s 1031 investment programs.
The sale resulted in a total return to investors of 154.52 percent, (calculations are based on the aggregate amount of original capital invested in the properties). Similar to many of IPC’s previous dispositions, this transaction provided liquidity to investors, while also providing investors with the option to utilize their sales proceeds to complete a subsequent tax-deferred exchange. In 2023, IPC has monetized approximately $193 million in real estate on behalf of its 1031 exchange platform.
The three properties include Trostel Square Apartments, located at 1818 North Commerce Street in Milwaukee, Norhardt Apartment Homes, situated at 1995-2145 Norhardt Drive, and Norhardt Crossing at 1930 Norhardt Drive.
