Chinese company purchases Germantown building
Sheyang, China-based All-Powerful High Pressure Waterjet Technology Co. Ltd. recently purchased a 10,000-square-foot building at N116 W18395 Morse Dr. in Germantown from Somersville, Conn.-based Carbon Products Inc. for $620,000. Carbon Products closed the Germantown facility and consolidated its operations at its two other locations in Minnesota and Connecticut. All-Powerful High Pressure Waterjet Technology manufactures ultra high pressure waterjet equipment.
Adam Matson and Collin Schaible of NAI MLG represented Carbon Products and Dennis Herman of Real Estate Executives represented All-Powerful High Pressure Waterjet Technology in brokering the sale.
Mandel Group buys suburban Madison apartment complex
Milwaukee-based Mandel Group Inc. recently purchased the 578-unit New Fountains Apartments at 5401 Williamsburg Way, Fitchburg, a suburb of Madison, from a Dayton, N.J.-based private investor group. The apartment complex consists of 14 buildings on 28 acres. The sale price was not disclosed, but financing for the transaction was secured in part through a $20 million mortgage loan originated through the Wisconsin Housing and Economic Development Authority (WHEDA). As a condition of the WHEDA financing agreement, Mandel will offer several of the apartments at reduced rental rates for low to moderate income residents. The sale transaction for the apartment complex was managed by Paul De Kruiff of the Chicago office of NorthMarq Capital.