Senior apartment complex in Pewaukee sold for $13.4 million

The 135-unit Quail Pointe Senior Apartments complex in Pewaukee was sold last week for $13.4 million, according to state records.

Brookfield-based KKNN Quail LLC purchased the complex, located at 1088 Quail Ct., from Pewaukee-based Quail Development LLC. The agent for KKNN Quail is James Cadd. The agent for Quail Development is Russell Maticek, according to state records.

Matthew Quest of Capital Commercial brokered the sale for the seller.

Quail Pointe is a luxury apartment complex for residents that are 50 and older. It was built in phases, with three connected buildings, and completed about 10 years ago.

The property has an assessed value of $9.35 million, according to Waukesha County records.
The property was quietly put on the market in November. Offers were received from multiple interested parties, Quest said.

“The property sold well above its assessed value in a relatively short period of time,” he said. “Luckily for our investors, we have more properties like Quail Pointe coming to market soon.”

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