CBRE has facilitated the sale of an 11-property multifamily portfolio, featuring a mix of suburban garden-style and urban low- and mid-rise properties, in the Milwaukee metro area to Katz Properties for an undisclosed amount.
CBRE’s Patrick Gallagher, Matson Holbrook and Gretchen Richards represented the seller, Blankstein Enterprises, and several affiliated entities in the transaction. Blankstein is a third-generation, family-owned investment and property management firm established in Milwaukee in 1932.
The portfolio consists of the 196-unit Sunburst Apartments and 48-unit Howard Garden Apartments in Greenfield; the 164-unit Newbury Place Apartments in Oak Creek; and 376 units across eight assets in Shorewood and Milwaukee’s East Side neighborhood. Additionally, A 2,520-square-foot building leased to Einstein Bros. Bagels in Shorewood was included in the sale.
The transaction follows the sale of two Blankstein-affiliated properties last week in Milwaukee and Sheboygan counties.
