CBRE has arranged the sale of Cast Iron Luxury Living, a 129-unit multifamily property in West Bend, Wisconsin. A partnership of local buyers purchased the property from Hendricks Commercial Properties for $21 million.
CBRE’s Matson Holbrook, Patrick Gallagher, Gretchen Richards, Sean Beuche and Peter Langhoff represented the seller in the transaction. Cast Iron Luxury Living was renovated in 2015 and 2017 into a mixed-use apartment community with 45,748 square feet of ground-floor commercial space. The property features a range of studio-, one-, two- and three-bedroom floor plans.
It was formerly home to The West Bend Company, which occupied the site since 1911. Current commercial tenants include Kettle Moraine YMCA, West Bend Pediatrics-Children’s Wisconsin and the West Bend Area Chamber of Commerce, along with restaurants Café Floriana and The Grün Hexe Kitchen & Catering.
“Hendricks did a phenomenal job creating Cast Iron Luxury Living as the bellwether of high-end multifamily units in West Bend that consistently maintains nearly 100% occupancy,” said Holbrook.
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