Brookview Pays $58M for Wisconsin Property
The 268-unit community came online in 2019.
The Brookview Cos. has acquired Forte at 84South, a 268-unit multifamily property in Greenfield, Wis., for $57.7 million. Fiduciary Real Estate Development Inc. sold the asset, while Northmarq brokered the deal and arranged the acquisition financing through its Fannie Mae DUS platform.
The community came online in 2019 and is part of 84South neighborhood. The two three-story buildings consist of studio, one-, two- and three-bedroom layouts, ranging from 494 to 1,288 square feet. Select floorplans also have private balconies or patios.
Common-area amenities at the more than 7-acre property includes a fitness center, swimming pool, clubhouse with patio, dog run and pet spa. Additionally, the community has landscaped terraces with grills and fireplaces.
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Forte at 84South is at 9125 Sura Lane, close to a host of dining and retail options and less than a mile from downtown Greenfield. Downtown Milwaukee is 12 miles away, while the Milwaukee Mitchell International Airport is within 8 miles southeast.
Northmarq’s Debt Managing Directors Brett Hood, Kevin McCarthy, Executive Vice President David Link and Investment Analyst Cole Boland led the team that secured the financing. Managing Directors Parker Stewart and Dominic Martinez, Vice President Alex Malzone and Associate Broker Jake Lamb arranged the transaction for the seller.
Milwaukee’s multifamily transactions volume year-to-date through November comprised seven communities—less than 570 units—trading for $53.5 million, according to Yardi Matrix information. This marks a considerable decrease from the 34 assets—about 3,760 apartments—that changed hands during the same period in 2023 for $291.4 million.
