Love Funding closed a $15 million bridge loan for the substantial rehabilitation and mini-permanent financing of Brewery Lofts, a market-rate community in Milwaukee.
Upon completion, Brewery Lofts will offer 118 units in an adaptive re-use of the historic Malt House and Malt Elevator buildings within the Pabst brewery campus. Originally built in 1882, the two buildings are part of the larger Pabst Brewery neighborhood redevelopment.
This historic complex covers more than 20 acres and more than six city blocks. The project will feature one- and two-bedroom luxury lofts in downtown Milwaukee. Residents will benefit from amenities including a community clubroom, business center, gaming area, fitness center and a landscaped rooftop.
The bridge financing was secured by Love Funding senior director Holly Bray with funding provided by Love Funding’s parent company, Midland States Bank. In addition to the bridge loan, the ownership entity, Milwaukee Pabst Holdings LLC, will benefit from federal and state historic tax credits for the redevelopment of the two buildings.