Home Industries Real Estate Featured Deal: $59 million apartment, land portfolio sale

Featured Deal: $59 million apartment, land portfolio sale

By
Cara Spoto
-

Milwaukee-based Cobalt Partners and Joseph Property Development recently partnered on the purchase of a $59 million apartment portfolio from West Allis-based Supreme Builders. The deal includes 25.5 acres of vacant land off I-894 in Greenfield where Cobalt and Joseph plan to develop a 250-unit apartment complex. The site is southwest of South 92nd Street and

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Cara Spoto
Cara covers nonprofits, healthcare and education for BizTimes. Cara lives in Waukesha with her husband, a teenager, a toddler, a dog named Neutron, a bird named Potter, and a lizard named Peyoye. She loves music, food, and comedy, but not necessarily in that order.
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Milwaukee-based Cobalt Partners and Joseph Property Development recently partnered on the purchase of a $59 million apartment portfolio from West Allis-based Supreme Builders.

The deal includes 25.5 acres of vacant land off I-894 in Greenfield where Cobalt and Joseph plan to develop a 250-unit apartment complex. The site is southwest of South 92nd Street and Coldspring Road, near the Hale Interchange. 

Seven apartment complexes in Greenfield, West Allis, Franklin, St. Francis and Oconomowoc, all of which were constructed by Supreme Builders, are also in the portfolio.

Address: Multiple apartment buildings, 25.5 acres at South 92nd Street and Coldspring Road near the Hale Interchange

Buyer: Cobalt Partners LLC and Joseph Property Development 

Seller: Supreme Builders Inc. 

Price: $59 million 

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