Midloch Investment Partners acquired The Malt House apartments in Milwaukee in a joint venture with Hempel Real Estate. The Malt House is an iconic 118-unit Class-A multifamily property in the historic downtown Pabst District.
The Cream City brick building was originally constructed in 1882 as the malt house for the Pabst Brewing Company, and between 2016 and 2021 was extensively redeveloped as a luxury multifamily property. The Malt House offers large floor plans with top-of-the-line finishes including stainless steel appliances, granite countertops, and in-unit laundry, all while maintaining a historic aesthetic. In addition, the property boasts a comprehensive amenity set including a large fitness center, package room, movie screening room, coworking lounge, game room, and rooftop deck.
The location within the historic Pabst District provides residents with walkable access to coffee shops, restaurants, and breweries, as well as the expansive Deer District where the Milwaukee Bucks play. Midloch owns the Brewery District Parking Garage adjacent to The Malt House.
The acquisition price was $19.2 million. The team of Brad Smith, Jack Maloney, and Anna Lovell of Cushman & Wakefield in Chicago facilitated the transaction. The buyers secured a new mortgage loan from Landmark Credit Union. Harmoniq Residential, based in Milwaukee, will manage and lease The Malt House.
Midloch’s investment in The Malt House is through Midloch Value Fund III, which is open to new investors.
