Hales Corners-based apartment developer Wimmer Communities has acquired two properties, an Elite Sports Clubs facility and a former Motel 6 building, at the northeast corner of West Bluemound and North Barker roads in the town of Brookfield.
According to state records, an affiliate of Wimmer purchased both properties for $7.7 million in all. The Elite Sports Club facility, located at 600 N. Barker Road, was sold for $4.3 million, while the former motel building, located at 20300 W. Bluemound Road, was sold for $3.4 million.
The two properties are collectively assessed at roughly $5 million, according to Waukesha County records.
Wimmer declined to comment on the transaction. In an email, the firm said it does not publicly discuss projects under consideration.
All five of Elite’s Milwaukee-area locations were sold in November to Peter Goldman, owner of Chicago-based Lakeshore Sports and Fitness clubs. Then in December, three of the sports club properties were sold to Scottsdale, Arizona-based real estate investment trust STORE Capital. The firm acquired the locations in Mequon, Glendale and on West Burleigh Road in Brookfield for a combined $42.4 million.
The town of Brookfield properties were acquired from separate entities affiliated with Elite’s former operators. Richard Yupesh, partner of Elite and husband of former Elite owner Kay Yupesh, acquired the motel in 2018 for $3 million. He noted at the time that the acquisition was unrelated to the fitness-club business. The motel closed sometime after.
Wimmer develops and manages residential properties throughout southeastern Wisconsin. It recently put forward plans for the second phase of its RiverWalk on the Falls project in downtown Menomonee Falls.