Weidner buys Latitude Apartments for nearly $13.7 million

The Latitude Apartments in Milwaukee. (Credit: Google)

Last updated on May 15th, 2019 at 04:47 pm

Kirkland, Washington-based Weidner Apartment Homes‘ most recent investment in the Milwaukee area is the 90-unit Latitude Apartments on Milwaukee’s East Side.

Latitude Apartments. (Credit: Google)

WI Latitude Apartments LLC, an affiliate of the apartment investment and management firm, recently purchased the apartment complex at 1857 E. Kenilworth Place from an affiliate of Dermond Property Investments. The roughly 0.6-acre property was purchased for $13.65 million, according to state records.

The city assesses the property at nearly $13.3 million.

Latitude Apartments offer studio and one-bedroom units ranging from 531 to 849 square feet, according to a news release on Weidner’s website. Amenities include a pool with sundeck, fitness center, outdoor lounge with barbeque area and a clubhouse. The apartment complex is apparently nearly 100 percent leased, as its website lists only three units as available.

Construction of the apartment building was completed in August 2010, and property management said the building was fully leased by the end of May 2011.

“For Milwaukee residents, Latitude Apartments is the ideal place to call home,” Weidner stated in the news release. “We’re so excited to welcome this sister property to the Weidner family.”

Representatives of Weidner could not be immediately reached for further comment.

This is the latest major purchase in Milwaukee by Weidner in recent months. In late 2018, the firm bought the 243-unit River House Apartments for $58 million, as well as the 104-unit Avenir Apartments for $22.3 million. In 2017, Weidner also bought the Arbor Ridge Apartments, Sunset Ridge Apartments and St. James Place Apartments complexes.

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Alex Zank, former BizTimes Milwaukee reporter.

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