Inland Venture Partners, LLC (IVP), the private equity real estate division of Inland Real Estate Investment Corporation, has successfully raised over $27 million in capital for a joint venture multifamily development project in Milwaukee. The offering has now been closed.
The development was carried out through one of Inland’s joint venture partners, Kaeding Development Group, LLC. IVP acquired the land parcel at 245 Harbor Drive in Milwaukee’s Historic Third Ward and construction on the ground-up Class A multifamily community began in March 2023. Leasing is expected to commence by January 2025.
This new development will consist of 261 units spread across five stories and three acres. It will feature a mix of luxury apartments including studios, one-bedroom units, two-bedroom units and three-bedroom units. This marks IVP’s fourth investment with Kaeding as well as their second ground-up multifamily project together. Currently operating a portfolio of manufactured housing communities with over 1,200 value-add units under its belt; IVP also has an additional 439 multifamily units currently under development.
The article “Inland Closes $27M Capital Raise for Milwaukee MF Development” originally appeared on Connect CRE.
