Past Sales

Park View Apartments, nestled in the quiet neighborhood surrounding Hawthorne Park in Janesville, Wisconsin is a great opportunity for steady investment.  The setting for Park View is idyllic with grand, stately oak trees and an expansive lawn area.  Typically appealing to a senior demographic, Park View has been a destination for residents seeking efficient living and access to important amenities like shopping, medical offices, hospitals and pharmacies. Tenants enjoy this asset’s boutique feel, and it shows via high retention rates and long rental tenure as a result.

This is truly a "bread and butter" opportunity for investors seeking low risk and strong returns.  This is coupled with the opportunity to convert the asset into a more "senior specific" use giving a new investor multiple executions.  In addition, current ownership has secured favorable, assumable agency financing at record-low interest rates, which allows new ownership to generate great returns immediately.

Best Product in Vibrant Walkable Location

Promenade at Founders Square stands out as the premier offering in its vicinity, boasting top-tier finishes and luxurious amenities that elevate the living experience. The vibrant location adds to the appeal, with convenient on-site retail options and adjacency to the popular Founders Square Park.

6.4% Cap Rate with Impressive Demand

The property is being offered at a compelling 6.4% cap rate. Furthermore, the property showcases remarkable demand as it is currently 100% leased with a waitlist of prospective tenants. This signifies a high level of interest and a positive market outlook for the property.

Northwest Indiana Employment & Amenities

The Northwest Indiana region is rich with abundant employment opportunities. Residents of Promenade at Founders Square enjoy convenient access to the job market in the Chicago area as well as the employment opportunities available in northwest Indiana.

Benefits From Illinois and City Exodus

Nationally there is a migration toward the suburbs. Locally Northwestern Indiana is benefiting from a boom of new residents as people look to escape Chicago in favor of small town charms, taxes and environment.

Proximity to Chicago

Promenade at Founder's Square boasts a prime location, a mere 45-minute drive from the lively city of Chicago. Residents can effortlessly enjoy the abundant amenities, entertainment offerings, and employment opportunities that Chicago provides, all while avoiding the exorbitant costs and inconveniences of city living.

Potential to Develop 60 Additional Units

The acquisition of land adjacent to Promenade at Founder's Square presents a promising opportunity for the development of 60 additional units. Two additional parcels of land are currently available for purchase at a price of $550K. Importantly, the site is already properly zoned and prepared, streamlining the development process.

Skyline Towers is a 60-unit, boutique elevator multifamily property located in one of the fastest growing submarkets in the Midwest. Offering large floorplans and underground parking, Skyline Towers is positioned to capture demand from modern renters looking for homelike living with the convenience of renting.

Skyline Towers was developed in 2017, delivering an unmatched product in the rental market. The property is now positioned for more operationally focused ownership, taking advantage of unrealized supplemental income while continuing to ride the wave of outsized rent growth in the Kenosha submarket.

Capture Operational Upside

Improve operations by capturing nearly $50,000 of additional annual income by charging market standard fees for parking and storage.

Booming Kenosha Job Market

Over 8,000 jobs added since 2010 through major corporations such as Amazon, Uline, Kroger, Haribo, and Nexus. There is another 4.5 MSF of industrial development projected to bring 1,000 more jobs to the area.

Assumable Debt with Term

The acquisition of Skyline Towers offers attractive assumable agency debt at 4.79% maturing in September 2030. The current loan balance is in line with today’s market loan to value.

Fundamentals Poised for Strong Rent Growth

Area home values have increased 11.2% in the past year averaging $447,500, making homeownership even less attainable in today’s rising interest rate environment. Skyline Tower’s average rent is only 18.5% the average area income of $101,437. With only 133 units under construction in the submarket, the asset its poised for outsized rent growth.

After a decades-long development hiatus, Broad Ripple, Indianapolis, has excitedly embraced Indy's most captivating mixed-use development.  The Coil Apartments and Fresh Thyme Farmers Market are an integral addition to a submarket with extremely attractive demographics - highly educated, high-earning residents.

Current residency boasts an average age of 38 years and a powerful average income of $100,000 with an average credit score of 726.  The asset's prestige even allures out of state residents to enjoy the benefits of a growing job market and economy in central Indiana.  The Coil is commanding some of the highest rents in the market.

Adjacent to the Indiana Central Canal, in the heart of Broad Ripple Village, The Coil is walking distance from the myriad shops and restaurants in the Village. The convenient location on College Avenue also grants residents direct access to downtown Indianapolis and the Carmel business corridor.

In addition to boasting 151 luxury apartments, the asset includes a 33,500-square-foot flagship Fresh Thyme Farmers Market with a long-term lease, backed by Meijer credit.  This is a rare amenity for renters in Indianapolis.

Discerning residents have limited options in an urban-suburban setting and will continue to thrive in this asset for many years to come.

The Malt House is a 118-unit, boutique elevator multifamily property located in one of the fastest growing submarkets of downtown Milwaukee. The Malt House is positioned to capture demand from young urban renters, offering attainable rents relative to new-construction product with all the perks of Class A living - a model that is impossible to replicate today.

The Malt House was redeveloped in 2021, delivering an unmatched product in the rental market with an industrial aesthetic, luxury finishes and robust amenities. The property is positioned for more operationally focused ownership, as the market continues to show demand for this product type, with rents growing 6.8% on new leases and 5.3% on renewals since September.

EXTENSIVE RENOVATION OFFERED WELL BELOW REPLACEMENT COST

a. Current ownership underwent a 5-year conversion project, delivering the property to market in 2021

b. Unique industrial aesthetic with Class-A unit finishes including stainless steel appliances, white shaker cabinets, granite countertops, and white subway tile backsplash

c. Robust amenity package including atrium, co-working lounge, game room, fitness center, movie theatre room and rooftop deck

UNIQUE RENTAL PRODUCT CATERING TO YOUNG PROFESSIONAL TENANT BASE LOOKING FOR HIGH-END LIVING AT ATTAINABLE RENTS

a. Attainable rents offered at a 15% discount to Class A product in the submarket

b. Strong recent lease trade outs – 6.8% on new leases and 5.3% on renewals since September

c. Large floor plans – Average unit size 19% larger than comp set average

d. Top tier amenities comparable to new-construction product

ASSET IMMEDIATELY ADJACENT TO MASSIVE DEER DISTRICT PUD AND TOP DOWNTOWN MILWAUKEE DESTINATIONS

a. Deer District Development (since 2019) – 1.3b sf of entertainment, 1,000 residential units, 600 hotel keys and 200k sf of office space

b. Part of Brewery District Redevelopment – $300m investment across 16 repurposed historically significant buildings totaling 850k sf

c. Accessible to Marquette Campus (11,600 students), Iron District development ($160m in 2025), and Lake Michigan

MILWAUKEE EMPLOYERS

a. Northwestern Mutual - $1b campus across two buildings and 5,000 employees

b. Six Fortune 500 HQs and additional six Fortune 1000 HQs

c. Walking distance to over 87,000 professionals in Milwaukee CBD

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of The Whit, a 334-unit, 2019-built apartment community located in the heart of vibrant and growing downtown Indianapolis.

Acquisition of The Whit represents an opportunity to own what is arguably the best property in the best location in the city. The property offers everything downtown high-income dwellers are looking for - from one of the most luxurious and comprehensive amenity sets to the high-end unit finishes and beautiful city views. Included in the sale of The Whit is an attached 540 space parking garage.

For access to confidential documents, please register at: CW-TheWhit.com

Nestled among a lush landscape, including sweeping willow trees and a large, peaceful pond with multiple fountains, Waterleaf Apartments sprawls across 22 acres in the popular Greentree neighborhood of Madison.  The asset is a perfect value-add opportunity that affords an owner the ability to renovate units and add amenities.  Comprising 176 one-, two- and three bedroom units, Waterleaf Apartments provides endless options to increase value.  Until recently, Waterleaf Apartments was encumbered by a LURA (Land Use Restrictive Agreement) with rent restrictions.  However, now that the building is fully unrestricted, ownership has begun to push rents on renewals and new leases.  A new investor will be able to continue this practice and implement a strategic value-add strategy that could include interior renovations and additional amenities and upgrades.  Both the submarket and Madison itself experiences srong rent growth and high occupancies.  Rent growth over the past three years has averaged 2.7% and occupancies have hovered around 95%, allowing for long term growth and strong returns.

The Abbey Lane is comprised of 100 one and two bedroom apartment units ranging in size from 839 sf to 1,398 sf. The property offers residents a serene setting amongst a mature wooded area and naturally meandering Coffee Creek. With amenities like a dog park, fitness center, pool, tennis court and playground, Abbey Lane is an idea place for a wide variety of residents.

Over the past 12 months, the property has undergone significant capital projects ($850,000+) including cosmetic interior upgrades to a select number of units, replacement of windows in 33 units, refreshed interior hallways as well as a minor clubhouse renovation and other deferred maintenance items (rebuilding of balconies, bridge reinforcement, etc.). The property is positioned well for the new ownership to purchase a stable, partially renovated property in an attractive location with ample opportunity to create upside.

Minutes from I-94 (to the north) and I-80 (to the south), Abbey Lane is ideally located in the heart of Indiana’s Northwest most affluent county (Porter). Access to Chicago is less than an hour’s drive or a 50-minute commute via the South Shore Line (train).