CBRE brokers sale of 129-unit multifamily property in West Bend

CBRE arranged the sale of Cast Iron Luxury Living, a 129-unit multifamily property in West Bend, Wisconsin. A partnership of local buyers purchased the property from Hendricks Commercial Properties for $21 million.

CBRE’s Matson Holbrook, Patrick Gallagher, Gretchen Richards, Sean Beuche and Peter Langhoff represented the seller in the transaction.

Cast Iron Luxury Living was renovated in 2015 and 2017 into a mixed-use apartment community with 45,748 square feet of ground-floor commercial space. It was formerly home to The West Bend Company, a cookware and appliance manufacturing-based business, which occupied the site since 1911.

Current commercial tenants include Kettle Moraine YMCA, West Bend Pediatrics-Children’s Wisconsin and the West Bend Area Chamber of Commerce, along with restaurants Café Floriana and The Grün Hexe Kitchen & Catering.

Cast Iron Luxury Living is located at 611 Veterans Ave. in downtown West Bend, within the riverfront district and proximate to several eateries, entertainment venues and the West Bend Farmers Market, which contains over 80 vendors. The property features a range of studio-, one-, two- and three-bedroom floor plans.

Community and unit amenities include stainless steel appliances, stone countertops, a business center, concierge services, a club and media room, garage parking, a car spa and a self-service canteen convenience shop.