Portfolio

686 Portfolio

Documents

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I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area Gross
Number of units 686

Portfolio description


Jones Lang LaSalle Americas, Inc. ("JLL"), a licensed real estate broker, is pleased to present the 686 Portfolio comprised of three multi-housing properties located in the western Milwaukee suburbs—Plum Tree Apartments (332 homes) in Hales Corners, Ravinia Apartments (206 homes) in Greenfield, and The Woodlands of Brookfield (148 homes) in Brookfield. Totaling 686 homes, the townhome-style communities feature full amenities packages and spacious apartments with private entries, balconies/patios, washer/dryers, and garage access for 100% of homes.


Developed by Trammell Crow Company between 1989 and 1991 and institutionally-owned and managed since 2007, the properties have benefited from $5.7M in capital improvements. These immaculate communities are primed for both community amenity upgrades and a value-add renovation program for nearly all of the homes.


The portfolio has historically been highly occupied (96% as of September 2022) and is achieving an impressive 17% rent growth on T60 new lease trade outs and 7% effective rent growth since 2021. This rare portfolio opportunity offers an investor an immediate footprint in top ranked suburbs, management economies of scale from proximate locations, and nearly 100% value-add upside.



The properties can be purchased as a portfolio or separately and are available free and clear of existing debt.

Investment Highlights

  • Immediate Scale (686 Units)
  • Operational Efficiency (Properties are Within 20 minutes of each other)
  • ~15 Minutes to Downtown Milwaukee
  • Nearly 100% Interior Renovation and Community Amenity Upgrade Potential
  • Townhome-style, 1,110 SF Avg Units
  • Single-Family Home Features incl. Private Patio/Balcony, W/Ds in Every Unit, and One-to-One Garage Parking Ratio/Select Attached Garages
  • Institutionally Owned & Managed since 2007
  • Strong Household Income (1mi Radius)
  • $5.7M Capex Invested Since 2017
  • Available Free & Clear


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686 Portfolio (3 Properties)
Woodlands of Brookfield, The
Brookfield, WI, United States
Ravina Apartments
Greenfield, WI, United States
Plum Tree
Hales Corner, WI, United States
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Last Updated Date: 15 Sep 2022

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