Triad Real Estate Partners recently sold a 61-unit, 173-bed student housing Property at The University of Wisconsin Milwaukee in Milwaukee.
The Park at 1824 was newly developed in 2009 about five blocks from campus at The University of Wisconsin Milwaukee. It is the only purpose-built student housing asset in the market for the university, which has a total enrollment of 26,011. The property sold for a total price of $8.2 million, which translates to $135,606 a unit and $47,815 a bed.
The seller was Wangard, a Milwaukee-based real estate development firm who built and operated The Park at 1824. The buyers were Eenhorn, a private real estate investment firm based in Grand Rapids that acquired the asset to expand its existing student housing portfolio in the state of Wisconsin.