175
Units
2020
Built
962
Avg Unit SF
Overview
The Bevy is a seven-building, 175-unit multifamily investment opportunity comprised of:
- Apartments in 3 three-story podium buildings with underground parking & elevators
- 16 Townhomes in 4 three-story buildings with attached garages & private entries
The Bevy represents the opportunity to acquire an exceptionally high-quality and well-designed 6-year-old multifamily property significantly below replacement cost in the heart of Milwaukee’s affluent North Shore.
The Bevy’s immediate location is:
- Walkable within the Historic Original Village of Brown Deer featuring charming restaurants, retail, parks, and the Brown Deer Public Library
- Located at the prominent intersection of Green Bay Road and Brown Deer Road less than 5 minutes west of Interstate 43
- Surrounded by significant new development, including a Target and multiple mixed-use residential projects
- Steps from new parks, coffee shops, and restaurants
INVESTMENT HIGHLIGHTS
STRONG OCCUPANCY
The Bevy is demonstrating very strong operational performance driven by increasing demand from the $15 billion, 5,000-job Lighthouse Data Center project 15-minutes north of The Bevy in Port Washington and the rapid lease-up of recently stabilized new product in the submarket.
The Bevy’s projected occupancy on 11/29/26, assuming no new leasing, is 93.1%, presenting very low leasing risk and the opportunity for rapid rent growth from the North Shore’s significant supply/demand imbalance.
TIF: $4,561,520 THROUGH 2034
The Bevy benefits from a Tax Increment Financing (“TIF”) development agreement with the Village of Brown Deer and its Community Development Authority in connection with Brown Deer TID No. 4. More details are available in the Offering Memorandum.
Gallery
Contact Us
Chicago Office
125 S. Wacker Drive, Suite 400
Chicago, IL 60606
INVESTMENT SALES
PETE EVANS
Senior Managing Director
847.226.0836
[email protected]
RICHARD EVANS
Senior Director
773.991.3321
[email protected]
Mortgage Banking
Jason Bond
Managing Director
847.997.9783
[email protected]
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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