Q2 2012 Milwaukee, Wisconsin Apartment Property Sales Analysis

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Q2 2012 Milwaukee, Wisconsin Apartment Property Sales Analysis


Apartment investment sales, on the other hand, were the strongest in years in the second quarter, with four significant properties trading for $94.1 million at a mean price of $57,000 per unit and a mean cap rate of 7.1%. The rolling 12 month cap rate was 6.9% at quarter end. In May, Bruce Styza Properties sold the 340-unit Rivers Edge Apartments in Waukesha to Rivers Edge Equity LLC for $29.5 million ($86,765 per unit). In June, Axiom Properties sold the 596-unit Harbor Pointe property in Milwaukee to Monarch Investment and Management Group for $27 million ($45,302 per unit.)