Affiliates of Bayside-based Katz Properties have purchased two Milwaukee apartment buildings, adding 155 units to the rental company’s portfolio of more than 1,000 apartments. A 9-story, 107-unit apartment building at 1560 N. Prospect Ave., called Bon-Aire, sold for $10.7 million. Built in 1951, the building is located on the east side of Prospect Avenue, facing
Affiliates of Bayside-based Katz Properties have purchased two Milwaukee apartment buildings, adding 155 units to the rental company's portfolio of more than 1,000 apartments.
A 9-story, 107-unit apartment building at 1560 N. Prospect Ave., called Bon-Aire, sold for $10.7 million. Built in 1951, the building is located on the east side of Prospect Avenue, facing Lake Michigan, and has an assessed value of $6.4 million, according to city records.
A 6-story, 48-unit apartment building at 913 E. Kilbourn Ave., called La-Shall, sold for $4.8 million. The building, located just west of the Kilbourn Tower condominium building, was built in 1923 and has an assessed value of $2.8 million, according to city records.
Both buildings lease one-bedroom units.
The buildings were sold by affiliates of Brookfield-based The Equity Group Inc., which leases apartments in Milwaukee, West Allis, Greenfield, Greendale, Waukesha, Kenosha and Wausau. The company previously operated under the name CCRT Properties.
[caption id="attachment_573665" align="aligncenter" width="1279"] La-Shall, 913 E. Kilbourn Ave., Milwaukee. Image from Google Maps[/caption]
