Milwaukee-based Blankstein Enterprises, Inc., one of the Milwaukee area’s largest apartment building owners has sold two more of its buildings – this time to another multi-family real estate firm, Milwaukee-based Berrada Properties.
Berrada purchased the historic Millerand Apartment Building at 3035 W. Wisconsin Ave., Milwaukee, in the Merrill Park neighborhood for $10.4 million. Constructed in 1925, and designed by Martin Tullgren & Sons, the nine-story building has 72 units. The company also bought the 90-unit Parkside Senior Apartments building at 2621 W. Pierce St., Milwaukee, near the Mitchell Park domes for $8 million.
The acquisitions come about a month after Blankstein sold a portfolio of 11 apartment complexes in Milwaukee, Greenfield, and Oak Creek, and Shorewood to Milwaukee-based Katz Properties Inc. for roughly $82.5 million. That deal included the 196-unit Sunburst Apartments in Greenfield, which sold for $18.2 million, and the 184-unit Newbury Place apartments in Oak Creek, which sold for $16.1 million. The 99-unit Oakland Manor apartments in Shorewood were sold for $13.7 million.