Weidner Apartment Homes has purchased The Oaks of Shorewood, a 101-unit senior housing community in Shorewood, Wis. Sherman Associates was the seller, according to Yardi Matrix data. The luxury property caters to residents over the age of 55.
JLL brokered the transaction on behalf of the seller and also secured acquisition financing for the buyer. The Fannie Mae loan will be serviced by JLL Real Estate Capital LLC.
The only age-restricted community of its kind in Milwaukee County, The Oaks of Shorewood comprises one- and two-bedroom apartments ranging between 718 and 1,750 square feet. Amenities include a fitness center, clubhouse, swimming pool, business center, spa, media room, library, pickleball court and game room. Apartments have washers and dryers, stainless steel appliances, walk-in closets and balconies. The property also features resident gardening areas, a dog run, bike storage and parking spaces.
The four-story building is located at 3900 Estabrook Parkway in the Village of Shorewood, the fifth best place to live in Wisconsin, according to JLL. The property is close to Route 190, which provides easy access to Interstate 43 and downtown Milwaukee.
Managing Directors Wick Kirby and Mox Gunderson, Director Amanda Friant and Senior Managing Director Jaime Fink led the JLL team representing Sherman Associates. Senior Managing Director Tom Wilson and Director Mike Brady led the JLL Capital Markets Debt Advisory team that arranged the financing for the buyer.
