Featured Deal: Majestic Lofts

Majestic Lofts
The Majestic Lofts in downtown Milwaukee.

Last updated on March 17th, 2020 at 01:33 pm

The owners of the former Grand Avenue mall, who are busy transforming the property into a mixed-use complex called The Avenue, recently purchased the Majestic Lofts next door. This is the latest in a series of acquisitions the developers have made of properties that are located next to or near the former mall.

The 135 apartments are located in the Majestic building at 225-233 W. Wisconsin Ave., which is connected to The Avenue. Through an affiliate, developers Josh Krsnak of Minneapolis-based Hempel Cos. and Tony Janowiec of Milwaukee-based Interstate Development Partners LLC purchased the apartments for $10.55 million.

Krsnak revealed recently the two aren’t done acquiring properties in the area.

“We’ve acquired, since the mall, six additional assets; we have our seventh asset under contract right now,” he said at a Greater Milwaukee Committee member meeting.

Address: 225-233 W. Wisconsin Ave.
Buyer: 225 Wisconsin Partners LLC
Seller: Majestic Milwaukee Loft Apartments LLC
Price: $10.55 million

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Alex Zank, former BizTimes Milwaukee reporter.

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