Marcus & Millichap sells 34-unit Contessa Apartments in Milwaukee

Marcus & Millichap recently announced the successful sale of Contessa Apartments, a 34-unit apartment complex in Milwaukee, Wisconsin. The property, located at 730 N. 23rd Street, was sold by the Whiteside Group, showcasing their expertise in the Wisconsin multifamily real estate market. Matthew Whiteside, senior managing director investments, emphasized the team’s ability to achieve exceptional results, with over 17,500 units sold in the last 25 years.

The exclusive listing for Contessa Apartments was handled by investment specialist Whiteside from Marcus & Millichap’s Milwaukee office. The seller, Feldman Real Estate, entrusted the property to the Whiteside Group, who then brought in a private investor from Milwaukee as the buyer. The apartment complex comprises a mix of one- and two-bedroom units spread out over 24,150 rentable square feet. Built in 1964, the property has seen significant capital improvements, ensuring a modern and appealing living environment for tenants.

Situated on 0.31 acres in the Avenues West neighborhood, Contessa Apartments provide convenient access to nearby amenities, including Marquette University, local dining establishments, and entertainment options. This prime location adds to the allure of the property for potential residents seeking a vibrant urban lifestyle. The sale of Contessa Apartments marks another success for Marcus & Millichap, reinforcing their position as a leading national brokerage firm specializing in commercial real estate investment sales.

As of the end of December 2023, Marcus & Millichap boasted a team of 1,783 investment sales and financing professionals across over 80 offices. The company offers a range of services, including investment brokerage, financing, market research, and consulting, catering to both sellers and buyers in the commercial real estate sector. In 2023 alone, Marcus & Millichap completed 7,546 transactions amounting to approximately $43.6 billion in sales volume, further solidifying their reputation in the industry.

The sale of Contessa Apartments exemplifies the ongoing deal boom in the Midwest-North region, with Milwaukee, Wisconsin, standing out as a hotspot for multifamily real estate transactions. Vintage buildings like Contessa Apartments continue to attract investors and buyers looking for opportunities in stable and promising markets. Deal activity in the region remains steady, with new developments and acquisitions keeping the market dynamic and competitive.

In conclusion, the sale of Contessa Apartments in Milwaukee highlights the strong performance and market expertise of Marcus & Millichap, underscoring their leadership in commercial real estate transactions. The property’s sale reflects the continued interest in multifamily assets in the Midwest-North region, with investors seeking opportunities in well-established markets like Milwaukee. The successful transaction serves as a testament to the Whiteside Group’s track record and Marcus & Millichap’s commitment to delivering exceptional results for their clients.