Greysteel, a national commercial real estate investment services firm, has arranged the sale and financing of Cudahy Commons, a 142-unit affordable housing property, located in Cudahy, Wisconsin.

Greysteel CEO, Ari Firoozabadi; Senior Managing Director, Doug Banerjee; and Director, John Marshall Doss from the firm’s Washington D.C. and Dallas-Fort Worth offices, sold the Property, and solely procured the Buyer.

Cudahy Commons is a 142-unit multifamily community located 10 minutes South of Downtown Milwaukee, Wisconsin. The property has successfully gone through the Qualified Contract process and began the 36-month decontrol period in April 2018. During this period, units can be converted from rent restricted units to market rate units. The Property has currently converted 30% of the rent restricted units to market rate in the first 18 months of the decontrol period.

Cudahy Commons is situated directly across the street from Rexnord Stearns, a leading manufacturer of spring-set motor breaks and noteworthy employer in the area. Additionally, the property is less than six minutes from Parkview Elementary School, Cudahy Middle School, and Cudahy High School. Residents also benefit from being five minutes from Sheridan Park which is situated along the beaches of Lake Michigan.

“Considering the Property is 18 months through the QC process and only 10 minutes from Downtown Milwaukee, made for a great investment and addition to the Buyers portfolio of affordable housing properties,” said Mr. Doss. “The new owners have the opportunity to take advantage of significantly below market rents of the rent restricted units through the process of converting the remaining units to market rate.”

* This deal was co-brokered by Wisconsin broker, Matt Trenkle.

About Greysteel:

Greysteel is a leading commercial real estate and capital markets services firm. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle market real estate assets. Our platform optimizes options for our clients by providing end-to-end investment services, from sales and financing to research and investment planning. Strategically located across offices nationwide, Greysteel has established broad market coverage from coast-to-coast.  www.greysteel.com