The 75-stall lot is located along the Milwaukee River, south of West Juneau Avenue and across the street from The Moderne apartment and condo tower. The site is also about a block east of the proposed site for a new arena for the Milwaukee Bucks.
MVP REIT plans to hire a parking operator and anticipates financing approximately 60 percent of the purchase price, according a filing with the U.S. Securities and Exchange Commission.
The company also purchased a 54-stall lot in March at 822 N. Old World 3rd Street for $1 million.
