Marcus & Millichap Brokers Sale of 160-Unit Multifamily Property in Wisconsin
Marcus & Millichap announced the sale of Orchard Courts Apartments, a 160-unit multifamily property in Kenosha, Wisconsin.
“Orchard Courts Apartments attracted strong investor interest due to its combination of stable operations, recent capital improvements and future development potential,” said Jake Lenti, associate director of investments. “The property includes approximately 20 acres of developable land adjacent to the University of Wisconsin–Parkside and is positioned in a market benefiting from major employment growth driven by companies such as Eli Lilly, Microsoft and Uline.”
Lenti, Ryan D. Engle and Andrean Angelov, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors. Orchard Courts Apartments, located at 985 Wood Road, is a 160-unit community situated on 34.2 acres, approximately 20 acres of which are available for potential future development.
Other News
Development Site Trades within Atlantic Avenue Mixed-Use Plan
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
Learn more
Fourth Sale Closes in Anaheim Multifamily Portfolio
Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
Learn more
JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout