Marcus & Millichap announced the sale of Orchard Courts Apartments, a 160-unit multifamily property in Kenosha, Wisconsin.
“Orchard Courts Apartments attracted strong investor interest due to its combination of stable operations, recent capital improvements and future development potential,” said Jake Lenti, associate director of investments. “The property includes approximately 20 acres of developable land adjacent to the University of Wisconsin–Parkside and is positioned in a market benefiting from major employment growth driven by companies such as Eli Lilly, Microsoft and Uline.”
Lenti, Ryan D. Engle and Andrean Angelov, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors. Orchard Courts Apartments, located at 985 Wood Road, is a 160-unit community situated on 34.2 acres, approximately 20 acres of which are available for potential future development.
The post Marcus & Millichap Brokers Sale of 160-Unit Multifamily Property in Wisconsin appeared first on Connect CRE.