New multi-housing community in Milwaukee sells for $53M
JLL Capital Markets closed the sale of the 274-unit mid-rise Vim + Vigor
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.
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 10th 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.
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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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Milhaus Development
Milhaus is an award-winning, mixed-use development, construction and property management company that specializes in Class A, urban, multifamily residential buildings. Headquartered in Indianapolis, Milhaus is comprised of inspired and industrious individuals who are passionate about the development of mixed-use and multifamily communities. The company provides exceptional customer experiences and creates solutions for neighborhoods that positively impact communities by providing unparalleled expertise in real estate, investment, development, construction and management. For more information, visit milhaus.com.
About The Davis Companies
The Davis Companies is a vertically integrated real estate investment, development and management firm headquartered in Boston that has invested more than $8 billion in gross asset value through real estate equity, debt and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 11.8 million square feet of office, healthcare and life science, industrial, retail and hospitality properties and over 4,000 residential units across the Eastern United States. For further information, visit thedaviscompanies.com.
About Weidner Apartment Homes
Founded by W. Dean Weidner in 1977, Weidner Apartment Homes is a real estate investment and management company, recognized industry wide as an efficient provider of quality rental homes and a creative developer of new housing. To provide the benefits of regional and economic diversity, their properties are located in Alaska, Arizona, California, Colorado, Minnesota, North Dakota, Oklahoma, Texas, Utah, Washington, Wisconsin, and Canada. The company is headquartered in Kirkland, Washington. For additional information, visit weidner.com or e-mail email@example.com.