Cypress Equities Sells Milwaukee Community
JLL Capital Markets brokered the deal.
Cypress Equities has sold Bayshore Place, a 113-unit community in Glendale, Wis., to a private investor. JLL Capital Markets represented the seller.
The asset previously changed ownership in September 2019, when Cypress acquired it from Corebridge Real Estate Investors, according to Yardi Matrix data. The then-buyer took out a $9.9 million loan from Allianz.
Bayshore Place came online in 2006 at 5699 N. Centerpark Way on 4 acres. The four-story building features one-, two- and three-bedroom units, with floorplans averaging some 1,100 square feet.
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Since 2021, the property underwent upgrades to all units totaling $1.3 million. All apartments have washers/dryers and microwaves, as well as private balconies and patios in select layouts. In addition, some apartments are pet-friendly.
Shared amenities include a fitness center, a community room, barbecue and picnic areas, a sundeck, as well as a heated parking garage with 107 spaces. Bayshore Place also features 52,000 square feet of ground-level retail.
Multiple retail and dining options are within walking distance of the property, including The Bayshore shopping mall, which is east of the property. Lake Michigan is about 1 mile away, while downtown Milwaukee is some 7 miles south.
JLL Capital Markets Director Amanda Friant led the Midwest multi-housing investment sales and advisory team.
Milwaukee’s multifamily sales on the rise
Milwaukee’s multifamily investment volume for 2025 clocked in at $219.8 million from the 24 properties totaling 3,083 units that changed hands, Yardi Matrix data shows. This marks a considerable increase from the 12 assets—1,544 apartments—that were sold in 2024 for $168.4 million.
One of the communities that traded last year is The Villas at Foxwood. PPR Capital Management acquired the 1990-completed property for $38.3 million.
