JLL announced the closing of the sale of a three-property, multi-housing portfolio located within the Milwaukee area. The properties include the neighboring Norhardt Crossing and Norhardt Apartments located in the suburb of Brookfield, as well as Trostel Square located just north of downtown Milwaukee in the Brewer’s Hill neighborhood.
Operating as one community, the Norhardt properties share amenities that include the clubhouse, leasing center and outdoor facilities. Residents of the properties benefit from the community’s location within the #1 ranked suburb in Wisconsin with premier access to top retail and office spaces, as well as highly ranked schools. Both properties are 1.5 miles north of Brookfield’s main retail stretch on Bluemound Road, featuring Brookfield Square Regional Mall and The Corners of Brookfield.
JLL worked on behalf of the sellers, affiliates of Inland Private Capital Corporation, an industry-leading alternative investment management firm, and procured the buyer, MLG Capital. JLL also worked on behalf of the new owner to secure fixed-rate loans through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo℠ lender.
The JLL Capital Markets Investment Sales Advisory Team was led by Managing Director Wick Kirby and Director Amanda Friant. The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Matt Schoenfeldt and Directors Mike Brady and Medina Spiodic.