Mandel Group Inc. recently purchased the 332 unit Plum Tree Apartments at 10459 W. College Ave. in Hales Corners, the 206 unit Ravinia Apartments at 4280 S. Ravinia Drive in Greenfield and the 148 unit The Woodlands of Brookfield apartments at 790 Lakeview Dr., Brookfield, from Chicago-based Equity Residential Properties. The sale price was not disclosed. Siegel-Gallagher Inc. brokers Patrick Gallagher and Gordy Welch represented Equity Residential Properties. Mandel Group represented itself. The three apartment complexes were built between 1987 and 1991 and have a 98 percent occupancy rate. Mandel Group president Barry Mandel developed and managed the properties when he was the residential partner for Dallas-based Trammel Crow Company, which later sold the properties to Equity Residential. "While we had stiff competition to purchase these assets, our intimate familiarity with these properties served us well," Mandel said. "They are great assets and we are pleased to have them back in our portfolio. It underscores our confidence in metro Milwaukee."
Wisconsin Commercial LLC, part of MLG Capital, recently purchased a pair of 54,000-square-foot, multi-tenant industrial buildings at 9720-50 S. Oakwood Park Drive, Franklin, for $4,462,500 from Chicago-based SFP Group LP. Greg Burk of Grubb & Ellis|Apex Commercial represented SFP Group and Barry Chavin of MLG Commercial represented Wisconsin Commerical in brokering the deal. The two buildings have about 45,000 square feet of vacant space, Burk said. About 90,000 square feet of space could be made available because one tenant, is on a month-to-month lease, he said.
