BWE secured more than $33.5 million in permanent financing for Heyday Oak Creek, a 130-home, market rate, build-to-rent community in Oak Creek, Wisconsin, part of the Milwaukee metropolitan area.
Dan Rosenberg, executive vice president in BWE’s Boca Raton, FL, and Chicago offices, with support from Tim Caffrey, assistant vice president in the Chicago office, and Logan Petersmeyer, senior analyst in the Chicago office, originated the $33,572,000 Fannie Mae loan on behalf of Heyday, a Chicago-based developer specializing in build-to-rent communities. The financing paid off the construction loan and the financing closed immediately upon the conclusion of Heyday Oak Creek’s initial lease-up.
The recently built Heyday Oak Creek consists of 130 rental homes across 22 town-home style buildings containing a blend of one-, two-, and three-bedroom homes. Set in a tranquil corner of the Milwaukee suburbs, the community’s 47 acres are interlaced with an abundance of open space amidst homes with high-end finishes and luxury in-home amenities. Heyday’s maintenance-free community allows residents to live like homeowners, but without the hassle of homeownership.
Heyday Oak Creek marks BWE’s second transaction for a Wisconsin Heyday build-to-rent property after securing financing for Heyday Sun Prairie in 2024.
