Dealmaker: Berkadia Completes $34M Wisconsin Multifamily Portfolio Sale
Berkadia sold three multifamily assets totaling 138 units in Milwaukee and Mequon, Wis. for $34.1 million.
credit: Ralph DePasquale
Managing Director Ralph DePasquale, Senior Managing Director Pete Evans and Director Jack Maloney of Berkadia Chicago and Senior Director Richard Evans of Berkadia Milwaukee represented the seller, Wisconsin-based Dermond Property Investments. A Nevada-based private family office acquired the portfolio.
“We saw tremendous interest in the portfolio from local, regional and national investors, which should be a great, long-term investment for the new owner,” DePasquale said.
The properties in the Dermond Milwaukee Portfolio included:
credit: Ralph DePasquale
-Artesa Apartments, a 33-unit property at 11130 N Buntrock Ave. in Mequon. The property has one-, two- and three-bedroom floor plans and residents have access to the Ozaukee Country Club, Lake Michigan and the shops and restaurants near Route 57.
-Avante Apartments, a 36-unit property at 1601 N Jackson St. in Milwaukee. This property’s studio floor plans include private balconies. McKinley Beach, the Milwaukee Art Museum and downtown Milwaukee are nearby.
-Vue Apartments, a 69-unit asset located at 2202 S Kinnickinnic Ave. in Milwaukee, has studio, one- and two-bedroom floor plans with walk-in closets. The location gives residents access to Humboldt Park, South Shore Yacht Club and General Mitchell International Airport.
