New multi-housing community in Milwaukee sells for $53M

CHICAGO, July 22, 2021 – JLL Capital Markets announced today that it has closed the $53 million sale of Vim + Vigor, a new, 274-unit, mid-rise multi-housing community in the Brewery District of Milwaukee, Wisconsin.

JLL marketed the property on behalf of the seller, Milhaus Development and The Davis Companies. Weidner Apartment Homes acquired the property.

Vim + Vigor was completed in 2019 and was over 90 percent leased at closing. The property comprises two buildings with apartment studio, one-, two- and three-bedroom units ranging from 376 to 1,340 square feet, as well as 7,050 square feet of ground-floor retail, a 237-space parking garage with additional surface parking and an expansive building amenities package. The apartments feature a range of floor plans, 9-to-100-foot ceiling heights, stylish kitchen designs with stainless steel appliances and quartz countertops, high-end bathroom finishes, wood- and concrete-style flooring, abundant in-unit storage spaces, patios and balconies and full-sized in-unit washers and dryers. The community offers a courtyard with grills and fire pit, conference rooms, home brewing studio, and 24/7 fitness center with yoga and Pilates studio. The buildings are enhanced with key-fobbed access and new technology systems throughout.

Located at 1303 North 10^th St. and 926 West Juneau Ave., Vim + Vigor is in Milwaukee’s thriving Brewery District, the site of the former Pabst Brewing Company. Situated between I-43 and Fiserv Forum and the Deer District, the now vibrant mixed-use neighborhood embraces a celebrated past, sustainability and modern urbanism to create an authentic live-work-play neighborhood radiating old world charm. Residents enjoy a fully walkable neighborhood, with easy access to surrounding universities, sporting/concert venues, employers, major highways and some of the best local shopping, dining and entertainment in Milwaukee. Everything in Milwaukee’s sought-after Whitestown neighborhood is within a 20-minute walk of the property.

The JLL Capital Markets investment sales advisory team that represented the seller was led by Senior Director Wick Kirby and Director Amanda Friant, along with Senior Managing Director Jaime Fink.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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