Whitefish Bay-based
Atid Properties has sold its Milwaukee County apartment building portfolio to Milwaukee-based
Enigma Properties for $16 million.
In July, owner
Martin Katz announced that he would be selling all of Atid Properties' residential properties as he looks for opportunities outside of his real estate company, a statement says.
"I am extremely excited and simultaneously nervous, ready to do less and raring for more to come," Katz said in a statement. "I expect that some of you thought I'd be doing this forever. I half expected that myself."
The portfolio included 12 apartment buildings with 246 units in total: eight buildings on Milwaukee's East Side, two in Cudahy, one in South Milwaukee and one in West Allis.
"The new owners have been a pleasure to work with and I am confident they are the best option to continue the same ethical, upright and honest work that Atid Properties has practiced for these past many years," the statement says.
Originally from Israel, Katz in 1989 joined the rental company that his father started in 1958, according to the statement.
Katz will retain ownership of Atid's three commercial properties, all located on East Silver Spring Drive in Whitefish Bay.
