Marcus & Millichap, a leading commercial real estate brokerage firm, recently closed the sale of The Apex Apartments in Whitewater, Wisconsin. The property consists of 135 units and was sold by TPW Whitewater LLC and AG Whitewater LLC to buyers Charge Holdings, LLC, Lake Square, LLC and Fraternity Lane ,LLC.
According to Matthew Whiteside, senior managing director investments at Marcus & Millichap’s Milwaukee office: “The multifamily housing market has shown impressive resilience even in secondary markets.” He also noted that nationally there has been an increase in renewal conversion rates by 150 basis points year over year as per Marcus & Millichap’s research.
Whiteside had the exclusive listing for the property and successfully marketed it on behalf of the sellers. The Apex Apartments is spread across 6.99 acres with 16 buildings located on North Fraternity Lane and West Florence Street. It offers a mix of one- and two-bedroom apartments with different floor plans available in each building.
This transaction showcases Marcus & Millichap’s expertise in arranging successful deals for their clients within the commercial real estate industry.
