CBRE Arranges Sale of Four-Property, 358-Unit Multifamily Portfolio in Milwaukee

CBRE has arranged the sale of a four-property, 358-unit multifamily portfolio located in Milwaukee. Brookfield, Wisconsin-based Coachlight Communities LLC purchased the portfolio from Milwaukee-based Metropolitan Associates for $29.65 million.

CBRE's Matson Holbrook, Gretchen Richards, Sean Beuche and Patrick Gallagher represented the seller in the transaction.

The portfolio includes four garden-style properties totaling 358 units, all located within a three-mile radius in the Northwest Milwaukee submarket. Each property offers a range of unit types and amenities, including parking, laundry facilities, community spaces and patios/balconies for most units.

The portfolio includes:

• Parkview Apartments, a 232-unit property located at 5166-5174 N. Lovers Lane Road in Milwaukee.
• Lisbon Court, a 71-unit property located at 9100-9106 W. Lisbon Ave. in Milwaukee.
• Hampton Gardens, a 30-unit property located at 8517 W. Grantosa Drive in Milwaukee.
• Grantosa Apartments, a 25-unit property located at 4903 N. 85th St. in Milwaukee.

"Metropolitan Associates had owned this portfolio since originally developing the properties in the 1960s," said Holbrook. “The market responded quickly and aggressively to this once-in-a-generation investment opportunity.”

The portfolio provides convenient access to Interstate 41 and is situated near several retail and employment amenities, as well as a local workforce anchored by manufacturing and distribution employers.