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The $125 million sale of a 1,368-unit multifamily portfolio was completed in 2023 despite limited funding available and limited traditional marketing by the brokers behind the transaction. It was one of the largest commercial real estate transactions in Wisconsin.
This transaction was reviewed by market-savvy real estate experts and won the 2024 CoStar Impact Award as Milwaukee’s Sale/Acquisition of the Year.
CBRE brokers said the sensitive nature of the sale restricts them from sending out mass emails or advertising property sales via third-party websites, and the transaction was “not a good deal for us.” “It was one of the most difficult dispositions ever,” he said.
“This transaction is unique because the diversity of assets within the portfolio requires unique knowledge of the buyer population each component attracts,” CBRE brokers wrote in their award application. I believe that.” A difficult bond market that initially priced itself in the wrong direction. The broker’s ability to advise sellers will allow them to pivot and bring in buyers who will ultimately maximize their net profits. .”
About the transaction: The portfolio sale included 20 properties Across Five another transaction This will allow the family-owned company to sell its portfolio of multifamily properties across eastern Wisconsin.
Judge’s comments: The scope and barriers to closing the deal made the portfolio sale particularly memorable. “Managing sales with so many addresses across so many markets is difficult from a coordination and organizational standpoint,” said Rickey Shneyder, a partner at CRUX Commercial Partners. . “This significant investment highlights the high demand for assets within our market and the overall strength of the multifamily sector,” said James McKenna, real estate advisor at Colliers.
They made it happen: CBRE First Vice President Matson Holbrook and First Vice President Gretchen Richards.
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