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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.”


Inside The Story

JLL’s Walsh

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing