CBRE has arranged the sale of Jade at North Hills, a 139-unit multifamily property in Menomonee Falls, Wisconsin.
Fred-Jade, LLC, sold the asset to Starboard Realty Advisors, LLC. At closing, the property was 98.6 percent occupied and 100 percent leased.
CBRE’s Patrick Gallagher, Matson Holbrook and Gretchen Richards represented the seller in the transaction.
Developed and constructed by Fiduciary Real Estate Development, Jade at North Hills is a garden-style multifamily complex that features four-, two-and three-story apartment buildings with underground parking. It is a mix of studio, one-bedroom and two-bedroom units as well as a 4,177-square-foot retail space adjacent to the entrance of the property.
The complex is located directly across from Woodland Prime office park, where more than 1,200 new jobs are being created for the Leonardo DRS factory/engineering plant and Milwaukee Electric Tool’s corporate campus.
The Menomonee Falls neighborhood continues to attract residents to the area. According to Money Magazine, Menomonee Falls ranked 15th on The Best Places to Live in America 2020 list and Waukesha County boasts the highest median household income of all counties in Wisconsin.
