Milwaukee-based F Street has launched an investment fund for its $37.6 million project in Brown Deer that will remove two underutilized office buildings to make way for 156 apartments. The project site at 4300 W. Brown Deer Road and 8989 N. Deerwood Drive previously was the location of two 1980s office buildings that F Street
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Tenant amenity space. Rendering from RINKA[/caption]
The apartment complex will also include amenities associated with class A apartment developments, such as a clubhouse, dog run and spa,
A 1-acre lot at the corner of Brown Deer Road and Deerbrook Trail will be reserved for commercial development. Plans for that building have not yet been released.
F Street is eyeing a late summer construction start with units available for pre-leasing in early 2025. F Street is planning to close this funding round at the end of July.
Investors could earn 8% preferred return on an investment of $200,000. Investors will be first paid on 8% preferred return accrual; any remaining available dollars will be used to pay down the initial investment, according to investor documents.
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The now demolished office building at 4300 W. Brown Deer Road. Image from LoopNet[/caption]