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 covers commercial and residential real estate for BizTimes. Alex previously worked for Farm Equipment magazine and also covered statewide construction news at The Daily Reporter. He graduated from the University of Wisconsin-Eau Claire, where he studied journalism, political science and economics. Having grown up in rural western Wisconsin, Alex loves all things outdoors, including camping, hiking, four-wheeling and hunting.

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